JAKARTA (TheInsiderStories) - Indonesian conglomeration firm, PT Elang Mahkota Teknologi Tbk (IDX: EMTK) also familiar with EMTEK plans to offer 4.75 million new shares through a private placement scheme with an indicative price of Rp1,954 a share or in total Rp9.29 trillion (US$645.14 million). Later, the shareholders will experience a dilution by 8.88 percent on the share sale program.
The management said on Tuesday (03/23), the proceeds from the rights issue will be used for investment and develop the company’ business. The corporate action has received approval from the shareholders on Feb. 18. The offering will take place on March 31 and the results will be announced on April 5.
Currently, EMTEK became a standby buyer in a limited public offering of PT Sarana Meditama Metropolitan Tbk (IDX: SAME) rights issue. While, the the operator of Omni Hospitals also seeking funds from the rights issue amounting to Rp1.19 trillion by offered 5.99 billion units or equivalent to 50.42 percent of the issued and fully paid-up capital.
Based on the prospectus submitted on March 4, the rights issue’ price was Rp200 a share. Each 10,000 shares-holder is entitled to 10,169 new shares and have right to purchase one new share. EMTEK has released 5.50 billion shares or equivalent to 9.75 percent of the total issued and fully paid capital and will uses for investment purposes and to liquid the stock trading in the capital market.
Through this program the management could also invite strategic investors who are interested investing their capital in the company. The parent company of television stations, SCTV and Indosiar, also has get permit to split the nominal value from Rp200 to Rp20 a unit on Dec. 14, 2020.
Last December, the company owned by Sariatmadja family also announced to extend the maturity of the mandatory convertible bond with the principal amount of US$70 million. The subsidiary, PT Elang Andalan Nusantara, has signed an amendment with API (Hongkong) Investment Ltd., to extend the notes period from 12 to 24 months. 55 percent of the company owned by PT Kreatif Media Karya, one of the unit of the media company.
EMTEK is a media group and run two television stations through the publicly listed firm, PT Surya Citra Media Tbk (IDX: SCMA). The shareholders of EMTEK are Eddy K. Sariaatmadja 24.90 percent, PT Adikarsa Sarana 11.53 percent, and Susanto Suwarto 12.61 percent.
Then, Piet Yaury 8.84 percent, Northern Trust Company S/A Archipelago Investment Pte. Ltd., 8.06 percent, PT Prima Visualindo 8.14 percent, Fofo Sariatmadja 5.38 percent, also public 18.05 percent.
US$1: Rp14,400
Written by Editorial Staff, Email: theinsiderstories@gmail.com
