Jakarta - PT Intermedia Capital Tbk plans to increase its capital without granting rights by issuing a maximum of 10% of the company's issued and fully paid-up capital.

The company's prospectus published on Tuesday (11/8) stated that the number of shares issued and fully paid in the company is 39.215 billion units.

The private placement issuance will increase the company's equity, strengthen capital, reduce loan interest, and improve cash flow performance.

The private placement plan is carried out to settle the senior facility debt of the business entity PT Cakrawala Andalas Televisi (CAT) worth Rp960 billion. This is because the company acts as a guarantor for the loan.

Meanwhile, the proceeds from the private placement will be given to CAT in the form or mechanism of a loan, which CAT will then use to pay part of the debt.

To realize this private placement plan, the company will hold an Independent GMS on December 14, 2