PT Buana Lintas Lautan Tbk (BULL) estimates that it will receive fresh funds from the planned additional capital without pre-emptive rights (private placement) of Rp140 billion.

BULL's board of directors report to IDX on Tuesday (10/8) that BULL will issue 500 million series B shares with a nominal value of Rp 100 per share.

Hartman International Pte Ltd will take the shares for the exercise of private placement with an exercise price of Rp280 or a total of Rp140 billion.

Thus, the company's issued and paid-up capital, which was originally 12.93 billion, will become 13.43 billion.

The company will realize the private placement plan on August 18, 2021, and the announcement of the results of its implementation on August 19, 2021.