10 Issuers to Conduct Rights Issues in August - September, with Massive Figures!
Several issuers on the Indonesia Stock Exchange (IDX) have announced plans for capital increases through Pre-emptive Rights (HMETD), commonly known as rights issues. The value of these corporate actions varies widely, ranging from hundreds of billions to tens of trillions of rupiah.
Based on information gathered as of 2 September 202<0xC2>6, several companies have disclosed redemption prices and the maximum value of their share issuances. One of the most recent announcements came from PT Cakra Buana Resources Energi Tbk (CBRE), which released a summary prospectus on 1 September 2026.
Note that final implementation schedules have not all been verified and are therefore not included in this summary.
CBRE Releases Latest Prospectus, Targeting Rp1.27 Trillion
CBRE released its summary rights issue prospectus on 1 September 2026. The company plans to issue approximately 11.80 billion new shares at an execution price of Rp108 per share, bringing the maximum issuance value to approximately Rp1.27 trillion.
Under this plan, every holder of 100 existing shares is entitled to receive 260 HMETD. Each HMETD provides the right to purchase one new share at the announced execution price.
The number of new shares offered is equivalent to approximately 72.22% of the placed and fully paid-up capital following the rights issue. This corporate action plan previously received approval through an Extraordinary General Meeting of Shareholders (EGMS) on 18 December 2025.
FORU Records Largest Planned Value
FORU recorded the largest planned rights issue value in the list, reaching approximately Rp27.10 trillion with an execution price of Rp126 per share.
This value includes a non-cash capital contribution in the form of shares in PT Borneo Prima through an inbreng mechanism. Consequently, the total issuance value does not consist entirely of cash flowing into the company.
Meanwhile, BUVA is preparing a rights issue with a maximum value of approximately Rp1.54 trillion at a price of Rp250 per share. BRNA has announced an execution price of Rp685 per share with a maximum value of approximately Rp372.61 billion, while AHAP is offering a price of Rp50 per share with a maximum value of Rp175 billion.
Several Issuers Awaiting Certainty
ENRG had previously announced details of its rights issue, but implementation is reported to be delayed. Meanwhile, BAJA is reportedly awaiting an effective statement from the OJK, as reported on 20 August 2026. Figures from previous plans are not included in the table as final updates have not been verified.
EURO is preparing to issue a maximum of 2 billion new shares, which will be submitted for approval through an EGMS on 18 September 2026.
Furthermore, BMAS obtained approval during an EGMS on 27 August 2026 to issue a maximum of 2.875 billion shares. The price, ratio, and implementation schedule will be determined at a later date.
MEJA is also preparing subsequent stages regarding its rights issue and the planned acquisition of Trimata Coal Perkasa. The maximum values listed in this list represent the target issuance before emission costs; therefore, actual realisation depends on the execution of each respective corporate action.