Jakarta - PT Pelayaran Nasional Bina Buana Raya Tbk (BBRM) aims to raise funds from additional capital by providing preemptive rights II of Rp245.07 billion.

Based on the brief prospectus published Friday (18/2), BBRM will offer 4.90 billion shares, representing 57.80% of the issued and fully paid capital after the rights issue.

The exercise price for the rights issue is Rp50 per share.

BBRM plans to use the proceeds from rights issue of US$14 million to pay off debts to PT Marco Polo Indonesia in the form of converting the loan into company shares, amounting to US$1.5 million for the purchase of offshore supporting vessels and the rest to increase working capital.

In carrying out the corporate action, the company appointed PT Marco Polo Indonesia as the standby buyer.

Shareholders who do not exercise their rights will have their shareholdings subject to a maximum dilution of 57.80%.

Meanwhile, the rights issue schedule aft