JAKARTA – PT Perintis Triniti Properti Tbk (TRIN) is gearing up towards a rights issue, offering 147,795,558 shares worth IDR 100 each. The target is set to IDR 133.01 billion of fresh funds, which will be utilised to acquire several tracts of land in different locations as assets.
Quoting the information disclosure today (19/10), Riska Afriani, Corporate Secretary of TRIN, claimed that the price exercised in this rights issue is set to IDR 900 per share. The corporate action will take place no later than 12 months after the decision is made in the Extraordinary General Shareholders Meeting tomorrow (20/10).
PT Kunci Daud Indonesia (KDI) and PT Intan Investama Internasional (III), the major shareholders of TRIN, will transfer some of their rights in this arrangement to Muhammad Kemal Dinata, Mawardi, Paryan, Jumino, Nadya Raisya Setia Murti, and PT Manggarai Anugerah Semesta (MAS).
After this rights issue, TRIN’s issued and paid-up capital will rise to IDR 478.06 billion. KDI will control 37.89% of them, followed by III of 30.99%, PT Panca Muara Jaya of 5.72%, public investors of 14.28%, Muhammad Kemal Dinata of 0.19%, Mawardi of 0.05%, Paryan of 0.03%, Jumino of 0.02%, Nadya Raisya Setia Murti of 0.72%, and PT Manggarai Anugerah Semesta (MAS) of 1%. Lastly, there were still series I warrants that cover 4.94% of them and the treasury shares of 4.16%.
Then, approximately IDR 43.10 billion of the proceds of this rights issue will be channelled to acquire a tract of land in Labuan Bajo. Another IDR 43.53 billion will be spent on a land plot in Lampung, while another IDR 28.61 billion will be utilised to settle long-term debts. The remaining amount will be used to boost working capital. (LK/ZH)