Prime Asia Capital set an execution price for the mandatory tender offer of IDR 74.5 per share
JAKARTA – PT Prime Asia Capital (PAC), the new shares controller of PT Mitra Investindo Tbk (MITI), is issuing the Mandatory Tender Offer (MTO) of 467.040.213 units of shares, with an execution price of IDR 74.5 each. Diah Pertiwi Gandhi, the Corporate Secretary of MITI, announced this corporate action in the information disclosure, quoted Friday (7/5).
It is specified that the allocated funds for the MTO reaches IDR 34.79 billion. The total shares to be taken over by PAC is 19.12%, with the offering period of one month, starting today (7/5) until June 5, 2021.
The said shares to be acquired comprise 4.91% of Class-A shares and 14.21% Class-B shares. In February 2021, MITI’s authorised capital was reported at IDR 320 billion, consisting of Class-A shares of IDR 60 billion and Class-B shares of IDR 260 billion. Then, its issued and paid-up capital reached IDR 176.14 billion, including Class-A of IDR 6 billion and Class-B of IDR 116.14 billion. These Class-B shares’ owners were Interra Resources Limited (11.30%), the public (14.21%), and PAC (65.69%).
PAC becomes the controller of the shares by replacing PT Wasesa Line (WL) via a rights issue held earlier. The authorised capital of PAC reached IDR 50 billion, while the issued and paid-up capital IDR 12.5 billion. The shareholders were Andreas Tjahjadi owning 69.99%, PT Marina Sinergi Utama (MSU) 40%, and Prasasto Ciomas Sutanto 0.01%. (LK/ZH)