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Indonesian insurer Asuransi Harta Pratama to boost capital via rights issue

PT Asuransi Harta Aman Pratama Tbk is seeking to raise its paid-in capital to 147 billion Indonesian rupiah through a rights issue to be held July 12.

The company will issue 2.1 billion shares at an issue price of 50 rupiah apiece in the rights issue III exercise, with a view to increasing paid-in capital from the current 42 billion rupiah. PT Asuransi Central Asia, the company's largest shareholder, will be using its right to convert the down payment of capital, which amounts to 50 billion rupiah, the company said in a prospectus.

The company will use the funds to increase its working capital.

As of July 2, US$1 was equivalent to 14,398.00 Indonesian rupiah.