PT Perdana Karya Perkasa Tbk (PKPK) will increase its capital by releasing 600 million new shares at a price of IDR 200 per share as pre-emptive rights.
That is equivalent to half of the issued and paid-up capital, according to the mining issuer's official statement on the Indonesia Stock Exchange (BEI) on Monday (27/3/2023).
In order to complete the new project, the plan is to use the proceeds from the rights issue for working capital. This will include the purchase of heavy equipment and supporting equipment.
PKPK management wrote, "The implementation of rights issue I has had a positive impact on financial conditions, including strengthening the capital structure and increasing the ability of cash to meet working capital needs."
After obtaining investor approval at the Extraordinary General Meeting of Shareholders on May 5 2023, corporate action will begin within twelve months.
After receiving the blessing of investors at the Extraordinary General Meeting of Shareholders (EGMS) on 27 October 2022 and a statement of the effectiveness of the issuance of new shares from the OJK, PKPK will also issue 600 million new shares. However, this plan was cancelled.
Cited from www.emitennews.com
