BNBR plans rights issue to optimize funding after CCT toll road acquisition
Thursday, February 26 2026 - 07:43 AM WIB
By Romel S. Gurky
PT Bakrie & Brothers Tbk (IDX: BNBR) plans to raise fresh capital through a rights issue to strengthen its balance sheet and support the development of its newly acquired toll road asset.
In a disclosure on Wednesday, the diversified infrastructure, manufacturing and investment group said it will seek shareholder approval at an extraordinary general meeting (EGMS) on February 27, 2026, to conduct a capital increase with pre-emptive rights (PMHMETD).
The company intends to issue up to 90 billion new Series E shares with a nominal value of Rp12 per share. The new shares will be issued from the company’s treasury shares and paid up in cash. Following shareholder approval, Bakrie & Brothers will submit a registration statement to the Financial Services Authority (OJK). The rights issue will proceed once the registration is declared effective.
Bakrie & Brothers said the planned capital raising is part of efforts to optimize its funding structure following the 2025 acquisition of PT Cimanggis Cibitung Tollways (CCT) by its subsidiary, PT Bakrie Toll Indonesia.
Read also : Cimanggis-Cibitung Section 1 toll road starts trial operation
CCT manages the 26.184-kilometer Cimanggis–Cibitung toll road in West Java under a 45-year concession. The company is responsible for financing, technical planning, construction, operation and maintenance of the toll road.
The Cimanggis–Cibitung toll road, designated as a National Strategic Project, has been fully operational since July 10, 2024. The toll road forms part of the Jakarta Outer Ring Road (JORR) 2 network, connecting Depok, Bekasi City, Bogor Regency and Bekasi Regency, and linking to the Jakarta–Cikampek and Jagorawi toll roads within the Trans-Java network.
Use of proceeds
Bakrie & Brothers said the proceeds from the rights issue—after deducting related costs and expenses—will be used to repay obligations of the company and/or its subsidiaries to creditors, as well as to support working capital and business development, including at CCT.
The detailed allocation of funds will be determined closer to the issuance date, taking into account prevailing conditions and optimal capital management considerations. Management retains the flexibility to adjust the use of proceeds based on circumstances and other relevant factors.
Editing by Reiner Simanjuntak