PT Weha Transport Indonesia Tbk (WEHA) plans to issue a maximum of 886.41 million shares with Pre-emptive Rights or 100% of the company's paid-in capital.

Based on the brief prospectus released on Wednesday (21/7), the company will also issue warrants attached to the shares resulting from the exercise of the Pre-emptive Rights, a maximum of 295.44 million shares or 33.33% of the total number of shares issued and fully paid in during the rights issue.

The company will use the proceeds from the rights issue for business development and or partial reduction of debt and or working capital.

Meanwhile, the company will determine the price and implementation schedule later after obtaining the approval of the EGMS.

The company expects the rights issue plan to positively affect the company's consolidated financial condition, strengthening the capital structure and increasing cash for working capital purposes.

In addition, it also expe