Jakarta - PT Smartfren Telecom Tbk plans to issue 31 billion new shares or 10% of the total issued and fully paid shares.

Based on the company's disclosure of information submitted to the IDX on Friday (6/3), the Extraordinary General Meeting of Shareholders will be held on July 12, 2022, to seek approval from independent shareholders regarding the plan to increase capital without pre-emptive rights or private placement.

The price for the implementation of the private placement is Rp100 per share. The proceeds from this private placement will be used for investment or for working capital purposes of the company/business entity.

If the plan is realized, the ratio of current assets to current liabilities will increase to 0.56 times from 0.25 times, while the ratio of liabilities to equity will decrease to 1.98 times from 2.47 times.

In addition, total assets grew to Rp47,076 trillion and equity rose to Rp15.778 trillion, while liabilities re