Petrosea plans rights issue of up to 170 million shares
The Indonesian company intends to use the net proceeds for working capital on engineering and construction projects, subject to shareholder approval.
PT Petrosea Tbk (PTRO) plans to seek shareholder approval on 23 November 2026 for a rights issue involving up to 170 million new shares. The company, which is affiliated with Prajogo Pangestu, outlined the proposal in an Indonesia Stock Exchange disclosure dated 15 October 2026.
The proposed shares would represent a maximum of 1.69% of Petrosea’s issued and paid-up capital and carry a nominal value of Rp5 each. They would come from the company’s unissued shares.
Petrosea said proceeds remaining after issuance costs would fund working capital for its engineering and construction projects, which form its main business activities. Management expects the capital raising to increase equity, strengthen the capital structure and support future business and revenue growth.
Shareholders who do not exercise their subscription rights could face ownership dilution of up to 1.66%. Petrosea said its prospectus would provide the final details on the use of funds and the terms of the rights issue. Approval will be sought at an extraordinary general meeting.
PTRO shares were down 4.85% at Rp3,920 as of 14:19 WIB on 15 October. The company’s market capitalisation stood at Rp39.54 trillion.
