Jakarta - PT Industri and Trade Bintraco Dharma Tbk (CARS) plans to increase its capital by granting rights to as many as 30 billion new shares.

Based on the company's prospectus released on Friday (9/30), implementing this additional capital will strengthen the capital structure to support business growth and improve the company's financial performance.

The company's capital in the long term is expected to increase business competitiveness and growth in investment returns for the company's shareholders.

Meanwhile, the funds obtained by the company from this corporate action will be used for business development, working capital, and strengthening the company's capital structure.

The company will hold a GMS to approve the plan on November 8, 2022.