CBRE to Launch Rp1.27 Trillion Rights Issue, with Rp858 Billion Allocated for Debt Conversion
PT Cakra Buability Resources Energi Tbk (CBRE) will conduct a capital increase through a Pre-emptive Rights Offering (PMHMETD), or rights issue, to raise a maximum of Rp1.27 trillion.
According to the company’s summary prospectus released on Wednesday (2/9/2026), CBRE will issue up to 11.8 billion new shares, equivalent to 72.22% of the total placed and fully paid-up capital following the implementation of the rights issue. The new shares have a nominal value of Rp25 per share and are offered at an execution price of Rp108 per share.
At this price, the maximum funds CBRE can raise reach Rp1.27 trillion. The rights issue ratio is set at 260 rights for every 100 existing shares, with each right granting the right to purchase one new share.
Notably, a large portion of this corporate action is not intended to raise new cash. CBRE will utilise the rights issue to convert debt into equity. The company will convert debts owed to PT Garuda Nusantara Mineral (GNM), PT Saga Investama Sedaya (SIS), Yafin Tandiono Tan, and Hilong Shipping Holding Limited (HSIL), totalling Rp858.6 billion (approximately US$48.5 million), into paid-up capital.
Consequently, about 67.4% of the maximum rights issue value will be used for debt conversion. The net proceeds remaining after the conversion process and the deduction of rights issue costs will be used as working capital to support the continuity and development of the company’s business activities.
From a shareholder perspective, this corporate action could lead to significant dilution for investors who do not exercise their rights. CBRE noted that shareholders who do not participate in the rights issue could see their ownership percentage decrease by up to 72.22%.
Meanwhile, CBRE’s controlling shareholder, PT Omudas Investment Holdco (OIH), which holds 61.13% of the company’s shares, has stated it will not exercise its rights directly. Instead, OIH will transfer a portion of the rights to GNM, SIS, Yafin, and HSIL.
These four parties have expressed their commitment to accepting the transfer of rights and exercising them. GNM is committed to taking 3.28 billion rights valued at Rp354.1 billion, SIS 2.05 billion rights valued at Rp221.3 billion, Yafin 1.8 billion rights valued at Rp194.7 billion, and HSIL 819.6 million rights valued at Rp88.5 billion.
Thus, the total commitment from these four parties reaches approximately Rp858.6 billion, matching the value of the debt to be converted into capital.
The CBRE rights issue schedule begins with an effective date of 23 October 2026. The cum-right date in the regular and negotiation markets is 2 November, while the ex-right date is 3 November 2026. The recording date to obtain the rights is set for 4 November 2026, with the rights subsequently tradable and exercisable from 6 to 12 November 2026.