PT Mahaka Media Tbk (ABBA) plans to increase its capital by providing Pre-emptive Rights of a maximum of 1.2 billion shares with a nominal value of Rp100.

In the brief prospectus published on Wednesday (21/7), the company believes that this additional capital can strengthen the company's capital structure, develop business activities, improve performance, and expand investment to have a positive effect on the company's financial condition.

The company will use proceeds from this corporate action for working capital and business entities and investment in the digital technology sector through the development of subsidiaries and new investments, application development, and hardware purchases.

The schedule and exercise price and the percentage of dilution for shareholders who do not exercise their rights will be determined later.