PT Batavia Prosperindo Finance Tbk (BPFI) plans to postpone the planned limited public offering IV in 2021 in order to provide pre-emptive rights or right issue.

"The postponement of adding capital by providing Rights Issue IV PT Batavia Prospekrindo Finance Tbk," said Batavia Corporate Secretary Indah Mulyawan in a statement to the IDX on Thursday (28/1).

In the brief prospectus published on October 12, 2020, Batavia Prosperindo plans to offer as many as 944,811,694 shares or around 34.64% of the issued and fully paid capital through the rights share issue, with a nominal value of Rp100.

PT Batavia Prospekrindo Internasional Tbk as the main shareholder will exercise its rights in the celebration plan. Shareholders who do not realize their rights will experience a decrease in ownership of around 28.26%.

The proceeds from this corporate action plan will be used to increase the company's working capital.

In the limited price offering IV plan framework, the company held an Extraordinary General Meeting of Shareholders on September 1, 2020. The effective date of the registration statement from OJK is on December 16, 2020, the date of cum rights offer on the regular market and negotiations on January 4, 2021, trading period and the exercise of rights offer on the IDX on January 8-21, 2021, share allotment on January 26, 2021.