Energi Mega Persada (ENRG), oil and gas company owned by Bakrie Group, plans to launch the rights issue, offering 15 billion new shares and 3.5 billion warrants. The proceeds of rights issue will be used for refinancing debt and funding its business expansion. The rights issue will affect a dilution of shares by 59.19%, or 64.27% with warrant on the calculation. Per June 2018, ENRG’s liability reached US$783.3 million while assets was US$762 million. Cash reached US$116.6 million. The Company only booked net profit of US$1.9 million in first half (H1) this year, compared to US$67.2 million profit in H1 last year, as net sales fell 25.5% to US$66.7 million and gross profit dropped 58% to US$15.3 million. ENRG also only booked other income of US$3.59 million, compared to US$71.4 million a previous year.