PT Energi Mega Persada Tbk (ENRG) is targeting to raise funds from a limited public offering (LPO) III for the issuance of Pre-emptive Rights of US$125.19 million or equivalent to Rp1.82 trillion.

The brief prospectus published Monday (5/7) explained that the company conducted an LPO III with Pre-emptive Rights of 14.47 billion new series B shares at an offering price of Rp126 per share.

Funds obtained from this corporate action will be used in the amount of US$43.5 million or Rp633.88 billion to purchase 250 thousand shares of Energi Mega Pratama Inc's total, amounting to US$6.73 million or Rp98.19 billion for the settlement of obligations related to a loan from Golden Glades Ltd.

Then, US$33.18 million or Rp483.63 billion to increase the company's investment in EMP International (BVI) Ltd, and US$4.41 million or Rp.64.26 billion to provide loans to EMP Malacca Straits SA, and the rest as working capital.

The standby buyers are entrus