Jakarta - PT Equity Development Investment Tbk (GSMF) is targeting to raise funds from additional capital with Pre-emptive Rights through a limited public offering V of Rp1.23 trillion.

Based on the brief prospectus published on Thursday (14/10), GSMF will offer 7.45 billion Series C shares at an exercise price of Rp165 per share.

Equity Global International Limited as the company's main shareholder with 67.76% ownership, will exercise all the Preemptive Rights that belong to it. Equity Global also acts as a standby buyer with a maximum amount of Rp1.1 trillion.

Shareholders who do not exercise their rights will be subject to a dilution of 47.21%.

The company plans to use the proceeds from the rights issue V to increase investment in shares in Bank Ganesha Tbk to meet the minimum core capital requirement required in Bank Ganesha of at least Rp. 1 trillion, and the remainder to increase investment in shares in subsidiaries.

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