Panorama would offer 1.2 billion shares via rights issue
JAKARTA – PT Panorama Sentrawisata Tbk (PANR) would launch a rights issue by putting 1.2 billion shares of IDR 50 each in an offer. This plan would be further discussed during the Extraordinary General Shareholders Meeting on August 27, 2021.
In a short prospectus quoted on Thursday (22/7), Anggreta Chandra, Director of Panorama Sentrawisata, reveals that the company is also issuing 400 million warrants, equal to 33.33% of its entire issued and paid-up capital during its rights issue registration to the Financial Services Authority (OJK). “Warrants would offer the holders the rights to place an order for the company’s shares for a certain price six months after the warrant is issued,” Chandra further explains.
PANR would direct all the collected funds from this corporate action to business development, including its subsidiaries and covering several debts. These additional proceeds would then strengthen capital structure and internal cash.
The number of shares to be offered in the rights issue equals 100% of the company’s issued and paid-up capital in June 2021. Out of its total shares of 1.2 billion units, PT Panorama Tirta Anugerah owns 64.25% of them, while the public shares the remaining 35.75%. (LK/ZH)