Jakarta - PT Kimia Farma  Tbk (KAEF) plans to issue mandatory convertible bonds (MCB) by converting a maximum of 325.10 million shares through a limited public offering mechanism.

The prospectus published on Friday (12/2) said that shareholders who do not exercise their right to buy MCB, which can be converted into new Series B shares, will experience a dilution of up to 5.5%.

The company will use the proceeds from the MCB in the context of rights issue I for working capital.

The trustee is entrusted to PT Bank Tabungan Negara Tbk.

The temporary schedule for implementation is that the Extraordinary General Meeting of Shareholders will be held on October 14, 2022, effective from OJK January 20, 2023, cumulative rights on the regular market and negotiation market on January 31, 2023, cumulative rights on the cash market on February 2, 2023, ex-rights on the regular market and negotiation market on February 1, 2023, ex-rights on the cash mar