XL Axiata Successfully Raised IDR 5 Trillion Rights Issue Funds

Director & Chief Finance Officer XL Axiata, Budi Pramantika. (Photo: Doc. XL Axiata)

JAKARTA - PT XL Axiata Tbk (XL Axiata) has succeeded in completing the Capital Increase by Providing Pre-emptive Rights III (PMHMETD III) or rights issue process on time and at the same time raised IDR 5 trillion in funds.

With this success, XL Axiata was able to realize the initial goal of conducting a rights issue, namely to strengthen the company's capital structure, including making payments on all or part of the company's debts. Carrying out this timely rights issue, XL Axiata was able to make early payments on corporate debt which was made in the period December 2022 and early January 2023.

Director & Chief Finance Officer of XL Axiata, Budi Pramantika said, the company's rights issue has been successful according to plan. Apart from being on time, he also managed to raise funds of IDR 5 trillion.

"We have also used these funds to pay early on company debts so that the capital structure becomes stronger because early debt payments have the potential to reduce interest expense by up to around IDR 300 billion in 2023," he said in a written statement, Wednesday, January 18th.

In December 2022, XL Axiata carried out PMHMETD III, or rights issue by issuing 2,403,755,889 new shares. This number of shares is equivalent to 18.31 percent of the issued and fully paid-up capital of the company after this PMHMETD III with a nominal value of IDR 100 per share.

The price for the rights issue is IDR 2,080 per share, so that the total funds that XL Axiata will receive will reach IDR 4.99 trillion. This rights issue is traded both inside and outside the Indonesia Stock Exchange (IDX) and is carried out for 5 working days from 20 December 2022 to 26 December 2022.

Every 25,000 old shares whose names are registered in the Company's Register of Shareholders (DPS) on December 16, 2022, at 16.00 WIB has 5,633 HMETD, where every 1 HMETD entitles the holder to buy 1 new share which must be paid in full at the time of filing. order to exercise Preemptive Rights.

If the new shares offered in this PMHMETD III are not entirely taken up by the public portion of the HMETD holders, then the remainder will be allocated to other company shareholders who have exercised their rights and subscribed for additional new shares, as stated in the Proof of Pre-emptive Rights (SBHMETD) or the Additional Shares Purchase Order Form.

In the event that there is an oversubscription, the new shares will be allotted proportionally based on the number of Preemptive Rights that have been exercised by each shareholder requesting additional shares based on the exercise price.