Prajogo-Linked PTRO Plans Rights Issue to Fund Working Capital

Jakarta, CNBC Indonesia — Petrosea (PTRO), an issuer affiliated with Prajogo Pangestu, plans to raise capital by offering up to 170 million new shares through a rights issue, officially known as a pre-emptive rights offering (PMHMETD).

The new shares represent a maximum of 1.69% of the company’s issued and paid-up capital and have a nominal value of Rp5 each. They will be issued from the company’s portfolio of authorised shares.

“After deducting the related issuance costs, the proceeds from the PMHMETD will be used by the company for working capital for projects it undertakes in engineering and construction, which are among its main business activities,” according to a disclosure to the Indonesia Stock Exchange on Thursday (15 October 2026).

Management said the proposed capital increase is expected to raise Petrosea’s equity and strengthen its capital structure. The corporate action is also expected to support the company’s business and revenue growth in the future.

Shareholders who do not exercise their pre-emptive rights could see their ownership diluted by up to 1.66%. Final details on the use of proceeds and the terms of the rights issue will be disclosed in the company’s prospectus.

To proceed, Petrosea will seek shareholder approval at an extraordinary general meeting scheduled for Monday, 23 November 2026.

Following the news, PTRO shares fell 4.85% to Rp3,920 by 14:19 Western Indonesian Time. Its market capitalisation stood at Rp39.54 trillion.