PT VKTR Teknologi Mobilitas Tbk (VKTR), an electric vehicle (EV) pioneer under the Bakrie Group, has officially revised its capital increase target through a rights issue scheme, or Pre-emptive Rights (PMHMETD). The company now plans to issue up to 25 billion new shares, a significant increase from the previously announced target of 21.87 billion shares.
According to an information disclosure released on Friday night, April 24, VKTR stated that this corporate action will be submitted for approval during an Extraordinary General Meeting of Shareholders (EGMS), which is scheduled to take place on May 19, 2026. Management clarified that the proposal remains subject to shareholder consent and an effective statement from the relevant capital market authorities.
“The company intends to issue a maximum of 25,000,000,000 new shares,” the VKTR management stated on Saturday, April 25. These new shares will be issued from the company’s portfolio and will be listed on the Indonesia Stock Exchange (IDX). Once issued, these shares will carry the same rights as existing ones, including the right to receive dividends.
The execution of this rights issue is contingent upon several conditions, including majority shareholder approval and the submission of a registration statement to the Financial Services Authority (OJK). Provided all regulatory stages are successfully navigated, the company expects the process to be completed by the third quarter of 2026.
The net proceeds from the rights issue, after deducting issuance costs, will be utilized to strengthen the company’s working capital and provide capital injections to its subsidiaries. This move is designed to support the future business development of both the parent company and its affiliates. However, VKTR also noted that the final allocation of funds may be adjusted based on market conditions and business requirements, with specific details to be provided in the official prospectus following the OJK’s effective statement.
From a fundamental standpoint, VKTR believes this strategic move will have a positive impact on its financial trajectory. The company emphasized that the initiative is geared toward driving revenue growth, enhancing profitability, and securing a robust business outlook. Furthermore, the boost in equity is expected to solidify the company’s capital structure, providing the necessary leverage for long-term expansion, particularly within its core focus: the electric vehicle industry.
Despite the potential for growth, the company noted that shareholders who choose not to exercise their rights will experience ownership dilution. VKTR estimates that the maximum dilution level could reach approximately 36.36% for those who do not participate in the offering.
With this revised plan, VKTR aims to fortify its financial standing while accelerating its expansion in the EV sector, aligning with Indonesia’s growing demand for clean-energy mobility solutions.