The issue price of the rights are at 0.7 cents per rights issue, which represents a discount of 53.3% to the closing price of 1.5 cents per unit, approximately 36.4% to the theoretical ex-rights price (TERP).
Lippo Malls Indonesia Retail Trust (LMIRT) has launched a rights issue of just over 9 billion new units to raise gross proceeds of up to approximately $63 million.
LMIRT aims to use the proceeds to repay existing loans and related financial obligations, for capital expenditure and general working capital and to pay the fees and expenses incurred in connection with the rights issue.
