Jakarta - PT Tunas Baru Lampung Tbk (TBLA) intends to raise capital by issuing 768,433 million shares with pre-emptive rights.

Based on the company's prospectus published on Tuesday (11/29), it would use the right issue proceeds for other units' working capital.

This rights issue has a positive effect on the company's financial consolidation to strengthen the capital structure, remarkably increasing the ability of cash to meet working capital needs, which in turn provides added value to shareholders.

For shareholders who do not use their rights, it can dilute their shares to 12.6%.

To realize this rights issue plan, the company will hold an Extraordinary General Meeting of Shareholders on January 4, 2023.