Chandra Asri Successfully Completes Rights Issue of IDR15.5 Trillion

On 15 September 2021, PT Chandra Asri Petrochemical Tbk has successfully completed its Pre-Emptive Rights Issue, the Limited Public Offering III which has obtained an effective statement from the Financial Services Authority (Otoritas Jasa Keuangan). All new shares issued was fully subscribed and the Company has successfully raised additional capital of IDR15.5 Trillion or USD1.1 Billion, to close one of the largest rights issue ever done in the Indonesia Stock Exchange to date. After the rights issue, the Company's total outstanding shares increased by 3,794,366,013 shares (from 17,833,520,260 to 21,627,886,273 shares). The composition of public shares is approximately 8.2%, fulfilling the free-float requirements of the Indonesia Stock Exchange. The standby buyer underpinning the successful transaction was PT TOP Investment Indonesia, a subsidiary of Thai Oil Public Company Limited (Thaioil), the flagship refiner of PTT Public Company Limited (PTT).