JAKARTA – Tan Heng Lok (THL) came forward as the standby buyer in connection to the plan of PT Sejahtera Bintang Abadi Textile Tbk (SBAT) of launching a rights issue next week (12-18/11). The decision was revealed by David Jonathan Sumito, Corporate Secretary of SBA Textile, in the information disclosure, quoted today (1/11).
It was mentioned that the company would issue 3,132,678,13 shares, offered for IDR 50 each. Thus, it would collect IDR 70 billion of fresh funds in the end. The proceeds would come from the corporate action would be allocated to buy three units of machines, supporting facilities, and working capital.
The ratio of shares in the rights issue was set to 407:500, which means that every holder of 407 old shares would be eligible to buy 500 new shares in the said corporate action. SBAT would also issue warrants of IDR 20 each, in which every holder of 56 warrants would earn the rights to secure six new warrants.
As of August 2021, SBAT’s shares amounted to 2,148,904,505 units, 43.69% of which belonged to THL. PT Industri Telekomunikasi claimed another 8.93% while public shared 47.38%. (LK/ZH)