PT Kiosan Komersial Indonesia Tbk (KIOS) plans to increase its capital by providing Pre-emptive Rights of up to 365.79 million new shares accompanied by the issuance of 248.73 series II warrants.

The company's official publication, Monday (19/7), the EGMS, will be held on August 24, 2021, to seek approval for the corporate action plan.

The company estimates that the rights issue plan can strengthen the capital structure to develop trading, warehousing, and telecommunications business activities which are part of the leading business activities of the company and its subsidiaries, as well as other uses that can support business growth so that it will have a positive impact on financial conditions.

The company plans to use all the net funds obtained from the rights issue to be used for working capital and subsidiaries that can support the company's business growth.

The rights issue plan will dilute the shareholders' percentage of the