JAKARTA - PT Smartfren Telekomunikasi Tbk (FREN), a telecommunications company, has converted 39 billion Mandatory Convertible Bonds (MCB) II and III into Series C shares. When calculated at an exercise price of IDR 100 per share, the MCB conversion will become Series C shares amounting to IDR 3.9 trillion.
In an information disclosure delivered on Tuesday (13/4), Jemes Wewengkang, Corporate Secretary of PT Smartfren Telekomunikasi Tbk (FREN) said that the conversion decisions of MCB II and III had been approved at the Extraordinary General Meeting of Shareholders (EGMS) on August 20, 2020. "All the Series C shares resulting from the conversion of MCB were carried out yesterday (12/4) on the Indonesia Stock Exchange (IDX)," he said.
After this corporate action, the number of FREN shares listed on the IDX was 302,262,543,720 shares.
Previously, it was known that the number of shares listed pre-listing was 46 billion shares, consisting of 16 billion MCB II and 30 billion MCB III shares with a nominal value of IDR 100 per share and the exercise of IDR 100 per share. (LK/LM)