Jakarta - PT Waskita Karya Tbk plans to increase its capital through a limited public offering II with Pre-emptive Rights of a maximum of 24.564 billion new series B shares.

The company's brief prospectus published on Wednesday (13/10) stated that the Indonesian government as the main shareholder would exercise its rights under the portion of its ownership in this rights issue II.

Shareholders who do not exercise their rights will receive a reduction in ownership of around 64.4%. Meanwhile, the company will determine the price and estimate of the funds raised through this corporate action later.

Waskita plans to use the proceeds from the rights issue for the completion of toll road projects, working capital for construction projects, and investment in the development of the company's subsidiaries.