Jakarta - PT Leyand International Tbk (LAPD) plans to increase its capital by providing preemptive rights of 3.021 billion series B shares.

Based on the company's prospectus published on Tuesday (9/20), the EGMS to approve this corporate action plan will be held on October 26, 2022.

The company will use 93% of the rights issue proceeds, or Rp139.860 billion, to take over the shares of PT Rusindo Eka Logistik Internasional (RER) and David Fulia 99.9%, and the remaining 7% for working capital and business development.

The capital injection in the rights issue is by using deposits other than money (inbreng) by standby buyers in the amount of 2.797 billion RER shares, or Rp139.860 billion.

At the end of June 2022, LAPD lost around Rp. 8.961 billion due to not achieving sales throughout the period.

Total assets are around Rp69.991 billion, with liabilities of Rp257.256 billion and equity deficiency of Rp257.186 billion.