PT Buana Lintas Lautan Tbk (BULL) plans to increase its capital with Pre-emptive Rights or rights issues by issuing a maximum of 1.45 billion series B shares and 4.35 billion series V warrants accompanying the issuance of the new shares.

Based on the brief prospectus published on Thursday (3/6), the exercise price is estimated at around Rp400 per share.

The company will use funds obtained from the rights issue entirely for working capital of around 60% and 40% for business expansion.

Management believes that the rights issue plan can positively impact the company's financial performance, strengthen operational performance and capital structure.

The addition of capital can also increase the company's ability to expand its business to boost profits and increase the return on investment value for all shareholders.

With this rights issue plan, the current ratio will increase to 132.55%, the ratio of liabilities to equity will dec