PT Matahari Putra Prima Tbk (MPPA) plans to increase its capital through a rights issue of 752,914 million shares or represent 10% of new shares of the total issued and fully paid capital.

The brief prospectus published Thursday (15/7) stated that the company would hold an EGMS regarding the rights issue approval on July 16, 2021.

The company plans to use all the funds to strengthen the working capital structure to support the development and implementation of retail business strategies both offline and online and strengthen the company's balance sheet structure needed to maintain financial performance.

If it is assumed that the exercise price of capital is under the calculations carried out on June 9, 2021, which is at least Rp.891 per share, which follows at least 90% of the average closing price of share trading from April 28, 2021, to June 8, 2021.

Thus, the gain from the implementation of the additional capital before deducting c