Property Developer PT Summarecon Agung Tbk (SMRA) plans to increase its capital with Pre-emptive Rights or rights issue II.

According to the company prospectus, SMRA will release a maximum of 2,081,786,678 or 2.08 billion new shares equivalent to 12.6% of the company's issued and fully paid-up capital. The exercise price is Rp720 so that the amount of funds in the limited public offering II reaches Rp1.49 trillion.

"Each holder of 693 shares has the right to buy 1 new share in the rights issue," said the management of SMRA.

On the other hand, based on the statement letter of PT Semarop Agung's commitment, as the owner of 33.78% of SMRA's shares, will exercise all of the Preemptive Rights in LPO II.

The plan is for the last trading date of shares with HMETD or cum rights on the regular market and negotiations on June 3, 2021, and on the cash market on June 7, 2021. The recording date or recording date of shareholders entit