Jakarta - PT Merdeka Copper Gold Tbk (MDKA) plans to increase its capital without granting rights to a maximum of 2.29 billion shares or a maximum of 10%.

Based on MDKA's information disclosure on Monday (9/5), the company will use the funds obtained from the Private Placement II plan to develop its business activities to spur potential expansion.

In addition, the issuance of new shares will increase the number of shares issued by the company, which is expected to increase stock trading liquidity.

For shareholders who do not exercise their rights, their ownership will decrease (dilution) to 9.09%, assuming the private placement has not been completed and a maximum of 8.68% is implemented.

The company's cash and cash equivalents will grow to US$1.02 billion from US$185.47 million if the Private Placement II is completed. The total assets will rise from US$1.27 billion to US$2.12 billion. Equity will increase to US$1.62 billion, up from