JAKARTA - PT Kirana Megatara Tbk (KMTR) seeks fresh funds of Rp 110 billion by conducting the rights issue on January 17-23, 2019. Through the rights issue, the company releases 1.1 billion shares with a price of Rp 100 per share.
Based on the company's prospectus, PT Triputra Persada Megatara, the majority shareholder which owned 3,649,393,700 of the company's shares announced that it would not use its right in the corporate action. However, HSF Pte Ltd, owner of 362,356,200 of the company's shares, stated that it would use its right in the rights issue. For stakeholders who would not use its right, its share will dilute by about 14.32%.
The management of Kirana Megatara will use the fund to expand its business and add its working capital. On July 2018, its total equity was recorded at Rp 1.51 trillion, while the long-term liability was recorded at Rp 341.47 billion. Meanwhile, its total asset was recorded at Rp 3.76 trillion. The current asset and current liabilities were recorded at Rp 2.38 trillion and Rp 266.41 billion, respectively.
For information, in December 2017, the company's equity was recorded at Rp 1.58 trillion, the current asset was recorded at Rp 2.20 trillion and its current liabilities was recorded at Rp 302.41 billion. Finally, its non-current asset was recorded at Rp 3.55 trillion and long-term liabilities was recorded at Rp 1.67 trillion. (LK/AR)