Iron Mountain to launch mandatory tender offer of 7.54% of Multifiling
JAKARTA – Iron Mountain Hong Kong Limited, the shares controller of PT Multifiling Mitra Indonesia Tbk (MFMI), executes the mandatory tender offer (MTO) of 7.54% of the public’s shares. It equals 57,155,600 units of the company’s entire issued and paid-up capital. Corporate Secretary of Multifiling Mitra Indonesia, Senjaya Bidjaksana, relays the news in the information disclosure, quoted Thursday (5/8).
The offering price applied in this corporate action is IDR 689 per share or IDR 39.38 billion in total. “The MTO would start today (5/8) and end on September 3, 2021. The payment date follows on September 15, 2021,” Bidjaksana explains.
Iron Mountain is a subsidiary of Iron Mountain Incorporated, listed on the New York Stock Exchange (NYSE) circa 1951. Based on the conditional shares purchase agreement made on February 9, 2021, Iron Mountain had acquired 700,425,400 shares, or 92.46% of MFMI’s entire issued and paid-up capital. The transaction is carried out for IDR 272 per share or IDR 190.51 billion in total.
According to Bidjaksana, the MFMI’s shareholders consist of Iron Mountain owning 92.46% and the public 7.54%. The MTO is intended to give chances to the public to sell their portion to Iron Mountain as the new shares controller.
Previously, PT Surya Cipta Investama dominates MFMI’s stock ownership with a 69.99% portion, followed by PT Multipolar Tbk (MLPL) of 26.47%, and PT Cahaya Investama, owning less than 5%. (LK/ZH)