JAKARTA. PT Horizon Internusa Persada (HIP), a subsidiary of PT Surya Semesta Internusa Tbk (SSIA), will issue Mandatory Convertible Notes (MCN) or medium-term debt securities that can be converted into equity.
In the disclosure of information on the Indonesia Stock Exchange, HIP is a start-up engaged in online travel accommodation. The HIP business is run to support a number of hotels managed by SSIA.
The SSIA Board of Directors said that there were 7 holders of HIP's MCN with a total value of Rp 112.67 billion. The seven parties are SSIA, Meranti Asean Growth Fund, NH Indogen Limited, PT Karya Bersama Bangsa, Gunas Capital Pte, Insignia Holding Company, and Darma Investments.
SSIA took as much as Rp 29 billion of the MCN issued by HIP. SSIA's MCN can later be converted into 1,084,788 shares of HIP. (KR/AR)