JAKARTA - PT Mas Murni Indonesia Tbk (MAMI) aims to earn Rp. 689.90 billion by releasing 7,186,536,170 series B shares at a price of Rp. 96 per share in a rights issue. The company also released 1,796,634,042 warrants.
As quoted from the company's information disclosure, the funds will be used for several purposes. The first one is to take over the Mandatory Convertible Bonds of PT Anugerah Mitra Lestari (AML) which owned by Brentfield Investment Limited and can be converted into 95.24% AML shares. The second one is to take over the Mandatory Convertible Bonds of PT Indo Udang Mas Lestari (IUL) which owned by Tumaco Pte Ltd, which can be converted into 80% shares in IUL. The third one is to acquire 19 hectares (ha) of land in Megamendung, Cisarua, Bogor which is controlled by PT Jasa Puri Medikatama. In this area a hotel, resort, outbound and glamping area will be built. The remaining funds will be used for working capital and expanding the business of subsidiaries and parent companies.
Standby buyers for the rights issues are Brentfield Investment Limited and PT Jasa Puri Medikatama. Approval for this plan will be made at the Extraordinary General Meeting of Shareholders on 1 March 2019. (LK/AR)