Jakarta - PT Multipolar Tbk (MLPL) plans to conduct a limited public offering for additional capital with Pre-emptive Rights or a rights issue of 1.999 billion shares or representing 12.02% of the issued and fully paid capital after this rights issue.

According to the brief prospectus published on Tuesday (11/1), the rights issue price is Rp500 per share. Thus, the funds to be raised amounted to Rp999.809 billion.

The company will use the proceeds from rights issue of around Rp90 billion to pay off part of the company's principal debt to Bank CIMB Niaga Tbk, appAAaaroximately Rp174 billion to pay off a portion of the company's principal debt to BNI Tbk, and the rest for the company's business development.

As the main shareholder, PT Inti Anugerah Pratama (IAP) will exercise all the rights it will acquire and act as a standby buyer, with a maximum value of Rp520 billion.

Shareholders who do not exercise their rights will be subject