TBS Energi Utama (TOBA) Issues Rights Offering of 1.39 Billion Shares for Expansion

Jakarta — PT TBS Energi Utama Tbk. (TOBA) plans to raise capital through a rights offering by issuing up to 1.39 billion new shares with a nominal value of Rp50 per share.

According to information disclosed to the Indonesia Stock Exchange, this corporate action is designed to support TOBA’s business development and expansion, particularly in the waste management, renewable energy and electric vehicle sectors.

All funds raised from the rights issue, net of emission costs, will be used to support the company’s expansion efforts in waste management, renewable energy and electric vehicles.

“The capital increase from the rights offering will strengthen the company’s capital structure and support business development and expansion. The long-term capital increase is expected to enhance business competitiveness and improve investment returns for shareholders,” the management stated on Tuesday, 11 March 2026.

Management noted that the rights issue implementation remains subject to several requirements, including approval from an extraordinary general shareholders’ meeting (EGMS) scheduled for 16 April 2026.

Management also warned that shareholders who do not exercise their rights to purchase new shares in this rights issue face potential ownership dilution of approximately 14.23 percent.

The corporate action timeline begins with information disclosure on 10 March 2026, EGMS notice on 25 March 2026, EGMS execution on 16 April 2026, and publication of meeting minutes on 20 April 2026.