PANI Revises Jumbo Rights Issue Plan for PIK2 Development

Revised Capital Raising Strategy

PT Pantai Indah Kapuk Dua Tbk (PANI) has revised its jumbo rights issue plan for December 2025, as outlined in the latest prospectus dated December 1, 2025. The company now plans to issue 1.21 billion shares at an exercise price of Rp12,975 per share, representing up to 6.69% of the company's paid-up capital post-transaction.

Key Changes in Rights Issue

The revised plan shows significant changes from the previous proposal:

1. Increased share offering: From 1.11 billion shares to 1.21 billion shares
2. Lower exercise price: Reduced from Rp15,000 per share to Rp12,975 per share
3. Slightly higher capital percentage: 6.69% vs previous 6.19% of post-issue paid-up capital

Implications for PIK2 Development

The rights issue is part of PANI's strategy to fund the development of Pantai Indah Kapuk Dua (PIK2), a significant property project in Jakarta. The revision in the rights issue plan may indicate adjustments in the company's capital management and funding requirements for the project.

Market Impact

The revised terms may affect investor perception and participation in the rights issue. The lower exercise price could make the offering more attractive to existing shareholders, potentially increasing subscription rates. However, the increased number of shares being offered may impact existing shareholders' ownership percentages if they don't fully participate.