PT Folago Global Nusantara Tbk (IRSX) is moving forward with its planned rights issue, pending final regulatory approval from the Financial Services Authority (OJK). The corporate action involves issuing a maximum of 12,390,094,754 new shares paired with up to 1,858,514,214 Series II Warrants, according to company statements released in September 2026.
Rights Issue Timeline and Regulatory Status
The company confirmed that the rights issue, officially termed PMHMETD I, remains on track following adjustments to the underlying financial statements from December 2025 to June 2026 books. Shareholders formally re-approved the transaction during an Extraordinary General Meeting of Shareholders (RUPSLB) held on September 24, 2026.
IRSX President Director Subioto Jingga stated that management expects to secure the OJK’s notice of effectivity by late October 2026.
"We are very optimistic that this corporate action will drive performance toward a more solid direction and provide a positive impact on business development, revenue growth, and profit increase thanks to the business expansion we will run," Subito Jingga told the media on September 25, 2026.
Management Restructuring at Folago Global Nusantara
Alongside the rights issue authorization, the September 24 RUPSLB introduced a reshuffled board of directors and commissioners.
Hana Hasanah Fadel Muhammad was appointed President Commissioner, replacing Adhie M. Masardi, who transitioned to serve as a commissioner. Megah Supratiwi joined the leadership team as an independent commissioner.
Within the executive ranks, Benny shifted from his previous role as an independent commissioner to become a company director.
Updated Board Structure
- Board of Directors:
- President Director: Subito Jingga
- Director: Charlie
- Director: Stephen Minaldo Onggo
- Director: Benny
- Board of Commissioners:
- President Commissioner: Hana Hasanah Fadel Muhammad
- Commissioner: Adhie M. Masardi
- Independent Commissioner: Megah Supratiwi
Capital Allocation for Corporate Expansion
Folago Global Nusantara intends to deploy the proceeds from the rights issue to strengthen its capital structure. The fresh funds will support upcoming capital expenditure (capex) and operational expenditure (opex) initiatives.
