JAKARTA - PT MNC Land Tbk (KPIG) expects to obtain Rp 844.51 billion during its private placement. The company will issue 6,546,603,874 shares at a price of Rp 129 per share.
As quoted from the company disclosure, this private placement will be conducted on 15 November 2019, and the results will be announced on 19 November 2019. The corporate action plan had been approved at the company's Extraordinary General Meeting of Shareholders (EGMS) on 6 August 2018.
Funds from the private placement will be used to finance a number of the company's new projects, including the construction of Lido City in Bogor, West Java. (LK/AR)