Jakarta - PT Citra Marga Nusaphala Persada Tbk (CMNP) plans to conduct a Limited Public Offering (LPO) III by granting rights to a maximum of 2.232 billion shares.

Based on the company's prospectus published on Wednesday (16/2), CMNP will use the proceeds from the rights issue for additional capital for the group's development plan in the form of capital deposits or loans to subsidiaries.

The projects that require funding include the Cileunyi-Sumedang-Dawuan toll road and the development of the Ir. Wiyoto-Wiyono.

To make the rights issue plan a success, CMNP will hold an EGMS on February 17, 2022.

Through this rights issue, the company will obtain additional new capital that can strengthen the capital structure to support the group's business development plan in the form of toll road investment and its supporting facilities so that, in the long term, it will support the company's business continuity.

In addition, the