Jakarta - PT XL Axiata Tbk (EXCL) plans to increase its capital through a limited public offering III with pre-emptive rights of 2.75 billion shares.

As quoted in the IDX's information disclosure on Tuesday (7/5), the company estimates that the right issue III plan will strengthen the capital structure to develop business activities in providing telecommunications services or telecommunications networks, as well as support the company's business growth.

The company expects this corporate action will positively impact the company's financial condition.

The company will use the proceeds from rights issue III for debt repayment.

If the shareholders do not exercise their preemptive rights, the company's share ownership percentage will be diluted by 20.49%.