Jakarta - PT Multipolar Tbk (MLPL) plans to increase its capital with Pre-emptive Rights VII as much as 3 billion class C shares.

Based on the prospectus issued Monday (18/10), the company will submit a registration statement for the Rights Issue VII to the Financial Services Authority OJK after the EGMS held on November 24, 2021 approves the plan.

Meanwhile, the plan is to use the funds to pay off part of the company's bank debt and develop business and investment.

With the implementation of Rights Issue VII, the company will obtain additional funds in the form of cash to pay off some bank loans and business development or investment.

Shareholders who do not exercise their Pre-emptive Rights and do not take their portion of new shares may be diluted by a maximum of 17.01%.