Jakarta - PT Diamond Citra Propertindo Tbk (DADA) increased the number of shares issued in a limited public offering (LPO) with preemptive rights to a maximum of 5.492 billion from the previous 4.485 billion shares.

According to the company's brief prospectus published on Thursday (4/14), the implementation price of the  LPO has been reduced to Rp80 from an initial Rp102 per share.

Thus, the funds raised through this rights issue amounted to Rp439.36 billion.

Along with this Rights Issue I, the company issued a maximum of 343.251 million series II warrants or 4.78% of the company's issued and paid-up capital.

The warrants have an exercise price of Rp300 per share, for a total value of Rp102.9 billion. Series I warrants can be exercised from December 13, 2022, to June 12, 2023.

The company will use the proceeds from the Rights Issue I, approximately 26.26% for working capital and 73.74%, to acquire 99.99% of CDP shares ow