PT Centratama Telekomunikasi Indonesia Tbk (CENT) has set the number of new shares issuance for its rights issue plan to be 12.736 billion shares, reduced from the previous plan of 34 billion shares.

Based on the additional prospectus published on Wednesday (31/3), the rights issue price is Rp200 per share. Thus, the company will receive as much as Rp2.547 trillion in funds.

As the main shareholder of the company, Clover Universal Enterprise Ltd stated that it will exercise part of its Pre-emptive Rights or 916,036 million shares. EP ID Holdings Pte Ltd, the main shareholder, will also exercise all of its Pre-emptive Rights or 5.578 billion shares.

Shareholders who do not exercise their Rights will experience a maximum dilution of 29% from the previously estimated 52%.

To realize this corporate action, the company has obtained the approval of the EGMS, which was held on March 15, 2021. The effective date of the rights issue registration statement from OJK is estimated to be obtained on May 7, 2021.

The Preemptive Rights distribution will be carried out on May 25, 2021, and the Preemptive Rights trading period is May 27-June 3, 2021, June 8, 2021 allotment.

The company plans to use the proceeds from the rights issue for the company's working capital amounting to Rp45 billion, and the company will use the rest for capital injection in CMI.