Jakarta - PT Diamond Citra Propertindo Tbk (DADA) has reduced the number of shares issued in the context of a limited public offering I with Pre-emptive Rights to as much as 4.48 billion shares.

Based on the brief prospectus published on Tuesday (9/11), the exercise price for Rights Issue I is set at Rp102 per share.

Thus, the funds that the company will raise through Rights Issue I are Rp457.53 billion.

Along with this Rights Issue I, the company also issues a maximum of 280,351 million series II warrants, equivalent to 10% of the company's issued and paid-up capital.

The exercise price for the warrants is set at Rp300 per share or a total of Rp84.105 billion. Series I warrants can be exercised from June 10, 2022, to December 9, 2022.

The company will use the proceeds from this Rights Issue I around 13.97% for working capital of the company/business entity, around 86.03% will be used to acquire 99.99% shares of PT Cipta Diamond