In order to strengthen the capital structure, PT Matahari Putra Prima Tbk (MPPA) plans to increase its issued capital through the mechanism of issuing rights to all shareholders of the company.

The exercise of the rights issue will take place in August 2021, after obtaining approval from the Extraordinary General Meeting of Shareholders and the Financial Services Authority.

"The maximum number of rights issues as well as requirements related to the rights issues, will be submitted at a later date, according to the implementation schedule," said MPPA Corporate Secretary, Danny Kojongian in the IDX disclosure, Thursday (8/4).

In the next three years, the company will continue to focus on operating its modern retail business through Hypermart, HyFresh, Primo, Foodmart, Boston Health & Beauty, FMX, and SmartClub outlets in Indonesia.

This year, when the Covid-19 pandemic ends, the company will continue the plan to open new outlets and repair outlets that are already in operation. The plan was previously suspended in 2020 due to difficult market and economic conditions amid the outbreak of the pandemic.

In addition, the company will also continue to develop and strengthen its online retail services, by taking steps to improve its organically owned online systems, such as Hypermart Online e-commerce and chat & shop via WhatsApp.

The company is also developing cooperation with marketplace operators in Indonesia, currently collaborating with GrabMart, Shoppee, Tokopedia, and Blibli.com.