JAKARTA - PT Agung Podomoro Land Tbk (APLN) plans to launch limited public offering I through a rights issue.
In the corporate action, Agung Podomoro will issue as many as 4 billion new shares with a nominal value of Rp 100. However, the company stated that the amount of shares to be issued is still subject to change, with the final decision announced on October 14.
“The amount of shares to be issued depends on the funding need of APLN and the implementation price of the limited public offering,” Agung Podomoro’s board of directors (BOD) wrote in an information disclosure, Tuesday (8/10). Previously, the company announced that it would seek shareholders’ approval for the corporate action at an EGM on November 5.
In the rights issue plan, Agung Podomoro has signed a new shares acquisition agreement with PT Indofica Housing and Trihatma Kusuma Haliman, with both parties having paid for the capital participation in advance. Based on the deal, Indofica paid Rp 769.33 billion in down payment while Mr Haliman paid Rp 30.66 billion.
“The down payment will be used by the company as planned, including to fully or partly repay the company’s debt to creditors,” wrote Agung Podomoro’s BOD. (MS)