Jakarta - PT Pratama Abadi Nusa Industri Tbk (PANI) plans to increase its capital with pre-emptive rights II of 13.12 billion shares, representing 96.97%.

Based on the company's brief prospectus published Friday (18/2), to realize the rights issue plan, PANI will hold an EGMS on March 28, 2022.

The rights issue plan aims to invest in and develop real estate companies.

The plan is to use the funds obtained from the rights issue to invest in and develop the business by acquiring new 51% shares issued by its affiliated company, PT Bangun Kosambi Sukses (BKS), and its working capital.

The company will use proceeds from the rights issue to take over 51% of the shares issued by PT Mega Andalan Sukses worth Rp4.69 trillion and 51% of the shares issued by PT Cahaya Gemilang Indah Cemerlang (CGIC) worth Rp1.79 trillion.