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Eyeing land in Labuan Bajo and Lampung, TRIN plans a rights issue

17 February 2022 06:40

JAKARTA – PT Perintis Triniti Properti Tbk (TRIN) will issue 185,314,670 shares via a rights issue for IDR 750 each on April 8-18, 2022. The raised funds, potentially amounting to IDR 138.98 billion, will be used to purchase lots located in Labuan Bajo and Lampung.

In the short prospectus published today (17/2), the composition of the proceeds appropriation is said to consist of IDR 43.10 billion for the acquisition of 191,790 m2 of land in Labuan Bajo, initially owned by PT Manggarai Anugerah Semesta (MAS). The payment will be made through assets transfer (inbreng scheme), channelling some portions of PT Kunci Daud Indonesia (KDI), the ultimate shareholder of TRIN, to MAS of 57,470,667 units.

Then, another IDR 43.54 billion will be used to take over another land of 93,108 m2 this time in Tanjung Senang, Lampung, previously owned by Muhammad Kemal Dinata, Nadya Raisya Setia Murti, Mawardi, Paryan, and Jumono. The payment will also be in the form of assets transfer (inbreng scheme), channelling some portions of KDI and PT Intan Investama Internasional (III) of 58,052,000 shares iin total. Meanwhile, another IDR 44.56 billion will be allocated to the working capital.

Additionally, TRIN will issue 185,314,670 Series II Warrants alongside its shares. Every one share is equipped with a right of one Series II Warrant worth IDR 950 per share, whose distribution will take place on October 12, 2022. (LK/ZH)

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