Cellular phone distributor PT Trikomsel Oke Tbk (TRIO) is aiming to enlarge its shares free float next year.
In an official statement submitted to Indonesia Stock Exchange yesterday, Trikomsel Corporate Secretary Juliana Samudro said the company is underway to hold a feasibility study for such corporate action. According to Juliana, to increase its free float, the company will increase its capital structure, which is in line with the regulation. The distributor will use the proceed obtained from the corporate action to support its business expansion.
Referring to the disclosure, Trikomsel seems to have a plan to raise capital through rights issue. But, the company hasn't clearly declared the plan.
Disclosure: No position at the stock mentioned above.
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