Jakarta - PT Jasnita Telekomindo Tbk (JAST) plans to increase its capital by granting preemptive rights or rights issues of 406.81 million shares.

Based on the prospectus published on Tuesday (4/19), the exercise price is Rp150 per share. Thus, the achievement of the funds obtained is estimated to reach Rp61.02 billion.

Along with this rights issue plan, the company will also issue 284.76 million series I warrants, or around 35% of the company's issued and fully paid capital before the limited public offering.

The exercise price for the series I warrant is Rp188 per share, so the total funds obtained are around Rp. 53.53 billion.

The company plans to use 8.3% of the proceeds from rights issues for capital expenditures, 50% for smart city project development, around 33.5% for the company's working capital, and 8.2% for lending to business entities.

Around 80% of the proceeds from the series, I warrant, will be used for working