Matahari Department Store Share Offering Priced at IDR10,850 per Share | Press Release
(Insider Stories) — Matahari Department Store Tbk (LPPF), announced the placement by Asia Color Company Limited and PT Multipolar Tbk of up to 1,342,245,500 shares in MDS.
The Offering comprises of a base offering of 1,167,170,000 shares and up to 175,075,500 additional over-allotment shares, at a price of IDR10,850 per share. The offer price was set following a bookbuild process during a roadshow with global institutional investors.
Over 200 institutional investors participated in the placement at the offer price, with 15 investors participating as cornerstone investors. These cornerstone investors are major global institutional investors including PT Schroders Indonesia, Capital Group, Fidelity and Blackrock.
Before the offering, the public held 1.85% shares of the company, or 53,976,602 shares. After the offering, the public, including the new shareholders, will now own 41.8% or 1,221,146,602 shares. If the share price performs well after the offering, the over-allotment option will be exercised, resulting in ACC disposing an additional 6% of the total shares offered in the placement. As such, if the over-allotment option is exercised, the public will own 47.85% of the shares of MDS, or 1,396,222,102 shares.
