JAKARTA – PT Summarecon Agung Tbk (SMRA) would pay off the 2018 Bond, install payment for bank loans of IDR 503.50 billion, and raise its working capital using the funds gathered from the rights issue. The rights issue would be held from June 9 to 15, 2021.
In the information disclosure, quoted Tuesday (25/5), SMRA is set to collect IDR 1.49 trillion by issuing 2,081,786,678 shares, with the execution price of IDR 720 each. The number of shares to be offered is equal to 12.6% of its issued and paid-up capital post-rights issue.
In April 2021, SMRA’s authorised capital was reported at IDR 2.5 trillion, with the issued and paid-up capital of IDR 1.44 trillion. The ownership structure was made of PT Semarop Agung (SA) 33,78%, PT Sinarmegah Jayasentosa 6,60%, and the public, owning less than 5%, 50,62%.
The Bond I Year 2018 of IDR 426 billion would mature on December 6, 2021. This 2018 bond was issued to pay off the previous Bond I Year 2013 and Sukuk Ijarah Year 2013. Furthermore, the company would start its principal payment for the bank credit facility of IDR 87.5 billion out of IDR 1.08 trillion. This loan was obtained from PT Bank Mandiri (Perseo) Tbk (BMRI) and would mature on June 23, 2021.
Meanwhile, an IDR 98.89 billion, or 62.262% of the rights issue fund, would be used to strengthen its working capital, including operational activities, overhead costs related to construction, and additional capital for PT Summarecon Investment Property (SIP). (LK/ZH)