Jakarta - PT Cashlez Worldwide Indonesia Tbk (CASH) plans to increase its capital by providing rights through a Limited Public Offering I or rights issue of 450 million shares.

Based on the prospectus released on Friday (14/1), the EGMS will be held on February 21, 2022, to realize the plan for holding the rights issue.

The company will use the proceeds from the issuance of the rights issue for working capital in business development and capital expenditure in developing business activities and taking over the company.

Cashlez wants to strengthen the company's business lines and product developments with continuous research and development and increase the number of merchants who use the company's applications. Developing the company's business, among others, by creating business lines to areas outside Java and Bali that require professional human resources to penetrate new areas.

The company hopes that the rights issue can strengt