JAKARTA – PT Mahaka Media Tbk (ABBA) will raise fresh funds of IDR 177.11 billion via a private offering of 1,180,767,857 shares from Wednesday, February 23, 2022, to March 2, 2022. The total issued shares are equal to 30% of ABBA’s full issued and paid-up capital after this corporate action takes place.
In the short prospectus quoted Tuesday (22/2), 66% of the proceeds of this corporate action are said to be utilised by ABBA, while the other 34% will be channelled to its subsidiary, PT Republika Media Mandiri (RMM). Out of those 66%, 56% of which will be spent on investing in digital technology, including developing an application and purchasing hardware. Then, another 34% will be split into 10% of operational expenditure and the rest of RMM business expansion.
ABBA’s authorised capital is currently equal to IDR 500 billion, while its issued and paid-up capital amounts to IDR 275.51 billion. PT Beyond Media (BM) holds 57.81% of them, followed by Peak Holdings Luxembourg SARL (PHL) of 10.27%, founders of PT Abdi Bangsa (AB) of 0.00%, and the public (below 5%) of 31.92%. The stock in portfolio still contains IDR 24.48 billion.
After this rights issue, the issued and paid-up capital will increase to IDR 393.58 billion. BM will have 40.47%, PHL 7.19%, AB 0.00%, and public investors (less than 5%) 22.34%. The remaining 30% will be left to PT Solic Kreasi Baru (SKB). (LK/ZH)