JAKARTA. PT Sanurhasta Mitra Tbk (MINA), a property and hotel developer, would offer 2 billion new shares through a rights issue.
Additional shares to be issued are equal to 30.48% of the company’s entire listed shares. Each unit of shares would have a nominal price of IDR 20.
The management would first ask for approval from the shareholders during the Extraordinary General Shareholders Meeting regarding this shares’ issuance. The execution price would also be announced after the said meeting. The ownership of investors who would not recollect their rights over these additional issued shares would be diluted by 39.57% at most.
In the public offering prospectus, MINA plans to utilise the funds gathered from the rights issue to put on other investments, be it on the subsidiaries or other separate companies. (KR/ZH)