JAKARTA - PT Kirana Megatara Tbk (KMTR) seeks the fresh fund worth Rp 583 billion by conducting the rights issue I. The company offers 1.10 billion new shares with a price of Rp 530 per share.
As cited from the company's prospectus, PT Triputra Persada Megatara (TPM) control shareholders stated will not use all the rights in the corporate action. TPM owns 3,649,393,700 shares. HSF (S) Pte.Ltd a majority shareholder owns 3,626,356,200 shares stated to take the rights amounting to 519,200,544 shares or worth Rp 275.17 billion.
The fund from the corporate action will use for participating equity (Rp 260 billion) in the subsidiary PT Kirana Musi Persada (KMP). Where its fund will be used to pay the stock purchase of PT Bintang Agung Persada from R1 Rubber Ventures Pte Ltd about Rp 240 billion and Rp 20 billion for working capital. The remaining fund will be used to strengthen the equity structure of the company, consisted of paying salary, lease office and operational. (LK)