PT Altas Resources Tbk (ARII) plans to increase its capital without giving rights to a maximum of 300 million new shares or 9.58% of the issued and paid-up capital in the company.

Based on IDX's information disclosure, Selasa (22/6), the funds obtained from this corporate action are to increase the infrastructure capacity of the North Musi Rawas hub, which includes hauling roads and coal ports to increase production and logistics capacity in the coming year.

This step is in line with the reference coal price (HBA) from the Ministry of Energy and Mineral Resources throughout 2021, for HBA to reach its highest point, which shows a significant upward trend.

The company assesses that rising prices will continue, thus providing a positive impact for the company to become a competitive coal-based energy company.

Shareholders who do not exercise Preemptive Rights under their portion will experience diluted ownership of as much as 8.74%.