Jakarta - PT BRI Agro Tbk (AGRO) plans to increase its capital by providing rights to a maximum of 2.15 billion shares or 9.96% of the issued capital.

According to the brief prospectus published on Thursday (19/8), the price of the rights issue exercise is still being calculated, and the EGMS will be announced later.

The company will use proceeds from this corporate action to strengthen capital that can be used as working capital in digital-based distribution, which is expected to contribute to financial performance positively.

If the rights issue is realized, the authorized capital of the company's shareholder, PT BRI Tbk, will increase to 20.44 billion shares from 18.58 billion shares, while the public remains unchanged or 3.003 billion shares.

Until this prospectus was published, BRI held 86.09% shares in AGRO and the public about 13.91%.