KAEF Ambition Faces Another Delay

By Editorial Team 17/08/2019
Summary

PT Kimia Farma Tbk (KAEF) plans to hold a rights issue to strengthen the working capital and develop a business expansion. The company will issue at least 1.58 billion of Series B shares or 22.14 percent of the total capital placed. As for the price, it will be announced in the PMHMETD prospectus.

The company can submit the plan after being approved by the extraordinary general shareholders meeting (RUPSLB) on September 18, 2019. As a result, KAEF can hold the right issue 12 months after the approval or September 18, 2020. It needs at least one year for the company to be finally able to use the fund for business expansion and sub-holding companies’ development.

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