Jakarta - PT Garuda Indonesia Tbk has set the exercise price for additional capital with Pre-emptive Rights or right issue of Rp196 per share.

Based on the prospectus published on Tuesday (12/6), the amount of funds to be raised is Rp 12.38 trillion from 63.21 billion series C shares or 70.95% of the issued and fully paid capital after the limited public offering (LPO) II.

PT Trans Airways as a shareholder of 7.316 billion shares, will not exercise its rights and will not transfer its rights.

Shareholders who do not exercise their rights will be diluted by around 70.95%.

Suppose the proceeds from LPO II only come from the government through State Capital Participation of Rp7.5 trillion. In that case, around 60% is used for repairs, restoration, and fulfillment of maintenance reserves, and 40% for working capital.

Conversely, if all shareholders exercise their rights,  with the maximum amount of proceeds from LPO II is Rp12.4 tri