PT Panorama Sentrawisata Tbk (PANR) plans to increase its capital with Pre-emptive Rights by issuing shares of a maximum of 1.2 billion units or 100% of the company's paid-in capital.

Based on the company's information disclosure, Thursday (22/7), in the rights issue, the company will also issue warrants attached to shares resulting from the exercise of the Pre-emptive Rights of a maximum of 400 million warrants or 33.33 percent.

The company will use the proceeds from this corporate action for business development (either directly or indirectly through subsidiaries), and/or partial debt reduction, and/or working capital.

Meanwhile, the schedule and price for the implementation will be determined later, after the company holds an EGMS to seek approval for the rights issue plan.

The rights issue is expected to positively affect the consolidated financial condition of the company and its subsidiaries, namely, among others, strengthening t