Aircraft maintenance company PT Garuda Maintenance Facility Aero Asia Tbk (GMFI) plans to raise capital through a Pre-emptive Rights Issue (PMHMETD) III, or rights issue, of up to 22.03 billion new shares.

Purpose and scale of the corporate action

The corporate action aims to strengthen the company's funding capacity while meeting the rules on publicly held shares (free float). According to its disclosure, GMFI intends to issue up to 22,029,751,488 Series B shares with a par value of Rp19 per share.

Planned use of proceeds

Proceeds from the rights issue, after issuance costs, will support business development and expansion. They will cover investment funding for development and for adding capacity and capability, renewal of tools and machinery, the establishment of new companies, and asset purchases.

The funds will also serve as additional working capital for operations. The company hopes the move will give it funding flexibility for operational needs and sustainable business development.

Expected impact

GMFI expects the rights issue to benefit its financial condition, among others through higher liquidity, better equity, a stronger capital structure and business development. Ultimately, the move is expected to add value for shareholders.

In detail, the rights issue is projected to add up to US$59.41 million, or about Rp1.06 trillion assuming an exchange rate of Rp17,800 per US dollar, to cash and cash equivalents. Assuming all pre-emptive rights are exercised by shareholders, GMFI's cash and cash equivalents are expected to rise 140.2%, from US$42.37 million to US$101.77 million.

"Through this PMHMETD III, the company has high expectations that shareholders will exercise the pre-emptive rights they hold," the company wrote in an IDX disclosure quoted on Friday (13/11/2026).

EGM approval

The PMHMETD III plan will first be put to shareholders for approval at an Extraordinary General Meeting of Shareholders (EGM). The meeting is scheduled for Thursday, 19 November 2026.

Sources

• GMFI Rights Issue 22 Miliar Saham, Ini Alasan dan Penggunaan Dananya — CNBC Indonesia (Mentari Puspadini), 13 November 2026 18:05 WIB. https://www.cnbcindonesia.com/market/20261113164308-17-785122/gmfi-rights-issue-22-miliar-saham-ini-alasan-dan-penggunaan-dananya