PT Asuransi Jasa Tania Tbk (ASJT) plans to increase its capital by providing HMETD (rights issue) of up to 1 billion shares with a nominal value of Rp100 per share.

The company's brief prospectus published on Thursday (21/1) stated that the company plans to use proceeds from the right share issue to increase production capacity, develop information technology for hardware and software provision, and human resource development to strengthen competitiveness.

Through this right issue, the company will receive additional new capital, strengthening its capital structure, increasing the number of outstanding shares, and increasing its capital in the long term to increase competitiveness and investment returns for shareholders.

The company will hold EGMS to get shareholders' approval for the right issue plan on February 2, 2021.

The company plans to implement and complete the additional capital through the right issue within a period of not more than 12 months after receiving the approval of the EGMS.