Jakarta - PT Multipolar Tbk (MLPL) announced a capital increase of Rp1.75 trillion, which came from exchange bonds worth US$50 million (equivalent to Rp719.2 billion) and a rights issue of Rp1 trillion.

The exchange bonds were absorbed by a Japanese financial institution registered in Tokyo, Tokyo Century Corporation. This debt instrument bears 1% interest for the first year and increases by an average of 3.5% over a three-year period.

Meanwhile, the rights issue was supported by PT Inti Anugerah Pratama (IAP) and the UOE Group. This Singapore-based company bought 17.2% of IAP's shares which did not exercise its Pre-emptive Rights.

"With the increase in capital, it will be used to fund the company's growth strategy, investments, acquisitions, and further strengthen the company's balance sheet," said MLPL CEO Adrian Suherman in a press release on Tuesday (21/12).

He continued, the capital increase was supported by the comp