JAKARTA – PT Sinergi Inti Plastindo Tbk (ESIP), a plastic packaging manufacturer, aims to secure extra working capital of IDR 41.79 billion by issuing 469,588,317 shares of IDR 89 each. This corporate action is scheduled to start next month and end in March (25/2-10/3).
In the prospectus quoted today (18/1), PT Tanindo Omega Plastik (TOP), the ultimate shareholder, is said to transfer its rights in the corporate action to Eric Budisetio Kurniawan (EBK), another shareholder of ESIP.
ESIP’s current authorised capital amounts to IDR 128 billion, while its stock portfolio carries IDR 95.98 billion. Its issued and paid-up capital reaches IDR 32.01 billion, 55.34% of which are claimed by TOP. Then, Eric Budisetio Kurniawan has another 11%, while public investors share the remaining 33.66%. After this rights issue, the paid-up capital will increase to IDR 55.49 billion. However, TOP will only own 31.93% this time, while Eric Budisetio Kurniawan’s portion will increase to 34.41%. The public will still retain the same portion of 33.66%.
Furthermore, ESIP also plans to issue 223,416,468 Series II warrants. Every holder of 227 newly issued shares is eligible for 108 Series II warrants of IDR 50 each. Lastly, ESIP’s working capital will proliferate from IDR 90 billion to IDR 128 billion after this corporate action. (LK/ZH)