Jakarta - PT Bank Raya Indonesia Tbk (AGRO) targets funds from additional capital with Pre-emptive Rights or rights issue X of Rp1.16 trillion.

The company's prospectus published on Friday (12/2) stated that AGRO would issue 2.32 billion shares or around 9.26% of the total issued shares with an exercise price of Rp500 per share.

The company plans to use the corporate action funds for capital expansion in channeling loans and strengthening funding for new market segments, especially the Gig economy.

AGRO shareholders, PT BRI  Tbk, will exercise their rights.

Shareholders who do not exercise their rights will be subject to a maximum dilution of 9.26%.

Meanwhile, the EGMS was held on September 27, 2022, and the OJK issued an effective statement on November 30, 2022. Cumulative rights will be available on the regular market on December 8, 2022, and on the cash market on December 12, 2022; exempt rights will be available on the r