Jakarta - PT Indonesia Prima Property Tbk (OMRE) raised funds by implementing additional capital with a rights issue of Rp600.105 billion.

Based on the company's prospectus released on Tuesday (12/20), OMRE will issue 1.2 billion series B shares, or 40.75% of the total number of fully paid shares issued.

The exercise price is around Rp500 per share. OMRE will use the rights issue proceeds to settle the company's debt to PT Mining Development in Rp577.581 billion.

First Pacific Capital Group, the company's largest shareholder with 78.24% ownership, will participate in the preemptive rights with a value of Rp70 billion.

Meanwhile, PT Manning Development, as a shareholder with a portion of 4.40%, also participates as well as being a standby buyer with a maximum value of Rp578 billion. Manning Development is also acting as a standby buyer.

Shareholders who do not exercise their rights will be diluted by around 40.75%

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