PT Matahari Putra Prima Tbk (MPPA) plans to increase its capital by providing Pre-emptive Rights of 1.17 billion new shares.

A brief prospectus published Wednesday (4/8), the EGMS to approve the plan for a limited public offering VI, will be held on September 9, 2021.

Management targets that the rights issue is expected to implement and complete in the fourth quarter of 2021.

Meanwhile, the company will use the funds obtained from this corporate action for working capital and the payment of part of the company's debt.

After the rights issue is realized, the authorized capital will be 30 billion shares.