Jakarta - PT Indonesia Prima Property Tbk (OMRE) intends to raise Rp600.27 billion in new capital through pre-emptive rights or a rights issue.

Based on the company's prospectus released on Wednesday (10/19), OMRE will issue 1.2 billion series B shares, or 68.80% of the total issued and fully paid shares.

The exercise price is around Rp500 per share. The company will use the proceeds from this rights issue to settle debts to PT Mining Development amounting to Rp577.58 billion.

First Pacific Capital Group as the company's shareholder with 55.89% ownership, will take part in the Preemptive Rights with a value of Rp70 billion.

Meanwhile, PT Mining Development as a shareholder with a portion of 4.40%, also participated as well as a standby buyer with a maximum value of Rp578 billion.

For shareholders who do not exercise their rights, 59.24% will be diluted.

The tentative schedule is that the EGMS has been held on Octobe