JAKARTA (TheInsiderStories) - PT Evergreen Invesco Ltd (IDX: GREN) announced its plan to raise capital of up to Rp30 trillion (US$2.5 billion) through issuing preemptive rights issue a maximum of 150 billion new shares. The rights issue is pending on shareholders approval scheduled for Oct. 17, 2016.
Currently, 55.26 percent of Evergreen shares are owned by Natural Crystal Holding Inc., 6.22 percent by First Venture Capital and public 40.53 percent.
If the existing shareholders decided not to exercise their rights, the company will ask third parties to become standby buyers of the rights issue. The standby buyers could also the company’s creditors, the company said.
In the event that public shareholders decided not to exercise their rights, their ownership in the company will dilute from 40.53 percent to 1.5 percent.
Evergreen Invesco engages in trade textile industry for cotton and cotton synthetic. The company was listed on Indonesia Stock Exchange in 2010 under the Main Board. The company was founded in 2003 and based in Jakarta. (*)