Add Working Capital, Lippo Cikarang Bakal Rights Issue 3 Billion Shares

JAKARTA - The Extraordinary General Meeting of Shareholders (EGMS) of PT Lippo Cikarang Tbk (LPCK) approved the agenda of additional capital with pre-emptive rights II (PMHMETD II) or rights issue.

The EGMS was held on Tuesday, November 19, 2024, in Aryaduta Menteng, Jakarta, the Company issued a maximum of 3 billion new shares with a nominal value of IDR 500 per share.

The funds obtained from this rights issue will be used for the Company's working capital and/or capital participation in the subsidiary owned by the Company, both directly and indirectly, which will support business activities.

LPCK President Director Gita Irmasari revealed that the purpose of this rights issue plan is the Company's business development and to support the company's revenue growth, profitability and business prospects in the future.

"We also hope that through this rights issue it can provide benefits and added value for the Company, shareholders, and other stakeholders," he quoted information disclosure, Jakarta, Sunday, November 24.

As of September 2024, the Company managed to achieve pre-sales of IDR 1,055 billion, equivalent to an achievement of 74 percent of the 2024 target of IDR 1,435 billion.

Pre-sales as of September 2024 are supported by residential projects, namely Waterfront Uptown, Newville, and Cendana Spark, as well as high demand for sales of commercial housing and shophouses with contributions of 64 percent and 27 percent, respectively. The remaining 9 percent consists of sales of industrial land.