JAKARTA - PT MNC Investama Tbk (BHIT) is seeking fresh funds amounting to Rp 1.75 billion through a rights issue. In the corporate action the company will release 17,572,392,572 shares at Rp 100 per share.
Based on the company's information disclosure, the rights issue proceeds will be used as working capital and to complete the claims of Caravaggio Holdings Ltd at Rp 832.11 billion, and New Ascend at Rp 750.63 billion. Both investors will also act as standby buyers. The plan will be approved at an Extraordinary General Meeting of Shareholders (EGM) on April 26, 2019, and will be implemented as late as 12 months after the EGM.
The placed and paid-up capital consists of HT Investment Development Ltd (Rp 1.32 trillion), Smart Empire Group Ltd (Rp 602.56 billion), PT Bhakti Panjiwira (Rp 526.22 miliar), Charlon Group Holding Ltd (Rp 398.20 billion), UOB Kay Hian (Hong Kong) Ltd (Rp 284.25 billion), and the public (each below 5%) with Rp 2.13 triliun. The total placed and paid-up capital amounts to Rp 5.27 trillion while the authorised capital amounts to Rp 11.50 trillion.
After the rights issue, the company's shareholders will consist of HT Investment Development Ltd (Rp 1.36 trillion), Caravaggio Holdings Limited (Rp 832.11 biillion), New Ascend Ltd (Rp 750.63 billion), Smart Empire Group Ltd (Rp 622.51 billion), PT Bhakti Panjiwira (Rp 543.63 billion), Charlon Group Holding Ltd (Rp 411.38 billion), UOB Kay Hian (Hong Kong) Ltd (Rp 293.66 billion), and the public (each below 5%) with Rp 2.20 billion. The total placed and paid-up capital will amount to Rp 7.02 trillion. (LK/MS)