Jakarta - PT HK Metals Utama Tbk (HKMU) plans to increase its capital through a limited public offering through the rights issue of a maximum of 5.150 billion new shares.

According to a brief prospectus published in the IDX's information disclosure on Thursday (1/9), to realize the plan, HKMU will hold an Extraordinary General Meeting of Shareholders on October 7, 2021.

HK Metals plans to use the proceeds from the rights issue for working capital, payment of part of the debt, and allocate the rest to subsidiaries.

Shareholders who do not exercise their rights will have their ownership diluted by a maximum of 61.52%.

After the planned transaction is exercised, the share ownership portion remains unchanged, with PT Hyamn Sukses Abadi owns 46.87% and the public 53.13%.