JAKARTA – PT Multipolar Tbk (MLPL) plans to collect fresh funds of IDR 999.80 billion via a rights issue of 1,999,619,611 Series C shares for IDR 500 each from March 8 to 11, 2022. In the upcoming corporate action, every holder of 51 Series A, B, and C shares is entitled to seven new shares issued in the rights issue, whose face value is IDR 100 each.
In the short prospectus quoted on Tuesday (11/1), PT Inti Anugerah Pratama (IAP), a shareholder of MLPL, would exercise its portion accordingly of 761,920,045 shares worth IDR 520 billion in total. IAP is also listed as the standby buyer to cover another IDR 139.80 billion should other shareholders refuse to claim their rights.
The rights issue proceeds will be used to pay some of the principal debts to the banks. These debts include the ones owed to PT Bank CIMB Niaga Tbk (BNGA) of IDR 90 billion and PT Bank Negara Indonesia (Persero) Tbk (BBNI) of USD 12 million out of the total USD 153 million. The remaining amount will be channelled to subsidiaries’ expansion.
As previously known, the credit facility from BNGA had been spent on funding the general financing of the company and its subsidiaries, save for PT Matahari Putra Prima Tbk (MPPA), which are due on October 12, 2022. The interest rate of the said facility is 9.50% per year. Meanwhile, the facility from BBNI is due June 2025 with a 6% per year interest rate. (LK/ZH)