JAKARTA - PT Intermedia Capital Tbk (MDIA) aims to gain Rp 39.21 billion by conducting private placement and releasing 3,921,553,840 shares, 10% of its issued and paid-up capital.
Based on the company's prospectus, the purpose of the corporate action is to gain funds to pay the loan (senior facility agreement) of the company's subsidiary, PT Cakrawala Andalas Televisi (CATV) worth US$ 21,947,426. Moreover, the funds will be used to increase the company's working capital.
As of December 2018, the company's authorised capital was recorded at Rp 725.48 billion with 72,548,756,800 shares. The issued and paid-up capital came from PT Visi Media Asia Tbk (VIVA) (Rp 352.93 billion) and public (Rp 39.21 billion).
The plan for this corporate action will be approved on the company's Extraordinary General Meeting of Shareholders, and the company's shares will be listed in the capital market on 14 May 2019. (LK/AR)