Indonesian Shipping Company Plans Jumbo Rights Issue

Jakarta, CNBC Indonesia - The shipping company, PT Pelayaran Nasional Ekalya Purnamasari Tbk (ELPI) plans a corporate action in the capital market to bolster the company’s funding. ELPI is preparing a capital increase scheme by offering Rights Issue (Hak Memesan Efek Terlebih Dahulu/HMETD). In a disclosure to the Indonesia Stock Exchange (BEI), as cited, Friday (6 March 2026) the company management announced plans for PMHMETD I by issuing as many as 2,112,420,000 new shares with a nominal value of Rp100 per share. That amount corresponds to a maximum 22.18% of the issued and paid-up capital after the rights issue. The company explained that the actual number of shares to be issued will be adjusted to funding needs and the exercise price of the HMETD to be determined in the next stage. To realise the plan, ELPI management will first seek shareholder approval in an Extraordinary General Meeting of Shareholders (RUPSLB) scheduled for 9 March 2026. After obtaining shareholder approval, the company will file a registration statement with the Financial Services Authority (OJK) so that the corporate action can proceed effectively. Management added that funds raised from the rights issue, after deducting issue costs, will be used for general liquidity, capital expenditure, and working capital, including to support diversification of the business, expansion, and the company’s investments.