TBLA - PT. Tunas Baru Lampung Tbk

Rp 660

-5 (-1,00%)

JAKARTA – PT Tunas Baru Lampung Tbk (TBLA) seeks IDR 452.30 billion of fresh funds to purchase crude palm oil (CPO) for cooking oil and biodiesel manufacturing process.

Based on the short prospectus quoted Wednesday (29/3), the funds will be raised through a rights issue of 753.83 million shares for IDR 600 each. Those shares are equal to 12.50% of its total issued and paid-up capital of the company post rights issue.

PT Sungai Budi (SB), the owner of 1.49 billion shares that represent 28.43% of total issued and paid-up capital of TBLA, will only exercise its rights over 214.27 million shares and transfer the remaining rights to PT Budi Delta Swakarya (BDS), TBLA’s primary shareholder, for 91.89 million units of shares.

BDS, the controller of 1.60 billion shares or 30.39% of TBLA’s issued and paid-up capital, will exercise its entire rights to purchase new shares issued by TBLA according to its own ownership percentage. It means that there will be 229.06 million new shares worth a maximum of IDR 137.43 billion.

All those raised funds will then be utilised to purchase raw materials for CPO on a spot basis from its suppliers, including PT Mulia Sawit Agro Lestari, PT Bumi Indawa Niaga, PT Rezeki Kencana, and PT Bio Inti Agrindo. (LK/ZH)