PEHA Aims to Raise Rp 1.1 Trillion from Rights Issue

By Editorial Team 27/08/2019
Summary

The extraordinary general shareholders meeting on Monday (8/26) has decided to give a clearance for PT Phapros Tbk (PEHA) to hold rights issue. The corporation eyes to raise Rp 1.1 trillion from the rights issue. Phapros President Director Barokah Sri Utami revealed that around 50 percent of the funds would go to the business expansion while the remaining funds are for working capital and refinancing of the maturing bank loans.

The pharmacy firm will appoint Danareksa Sekuritas as the lead underwriter and two other securities houses. However, the initial price for the rights issue is still unknown. Emy stated that the price would need another clearance from the majority and minority shareholders. She hoped that the rights issue would be concluded in the second half of 2019. “We want to increase the company’s capital with fairly large equities after the rights issue,” Emy said during the extraordinary general shareholders meeting press conference on Monday (8/26).

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