JAKARTA (TheInsiderStories) – Conglomeration firm, PT Elang Mahkota Teknologi Tbk (IDX: EMTK) announced to run private placement program by releasing 5.50 billion shares or equivalent to 9.75 percent of the total issued and fully paid capital. The exercise price of the share will announces later, said the management.
In announcement released today (01/13), the issuer said the proceeds from the corporate action 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.
It said, the implementation of the private placement will be carried out not more than two years after the permission is granted at the Jan. 28′ shareholders meeting. Later, the shareholders will experience a dilution by 8.8 percent. The parent company of television stations, SCTV and Indosiar, 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.
The notes was issued on March 20. 55 percent of the company owned by PT Kreatif Media Karya, one of the unit of the holding company. EMTEK is a media group and run two television station, SCTV and Indosiar, through the publicly listed firm, PT Surya Citra Media Tbk (IDX: SCMA).
Currently, the issuer plans to buyback shares up to 20 percent of enlarged and paid up capital. For the program, the issuer prepared funds Rp1.3 trillion ($92.20 million) and had been carried out since Sept. 9 to Dec. 8, 2020.
At the same year, one of the largest media in Indonesia has acquired 99 percent of PT Vidio Dot Com shares with values of Rp104 billion from PT Mediatama Anugrah Citra. The provider is a video streaming service that also provides sports, music, entertainment and film content services.
Then, EMTEK bought 51 percent at PT Kapanlagi Dot Com Network for Rp174.7 billion. The issuer also acquired 99 percent of PT Binary Ventura Indonesia shares which owns 60 percent ownerships in PT Estha Yudha Ekatama and 50 percent stake in PT Samara Media Entertainment with a value of Rp45.45 billion.
The issuer also has completed the purchase of 4.24 million shares or 71.88 percent of all issued and fully paid shares in PT Sarana Meditama Metropolitan Tbk (IDX: SAME), the operator of Omni Hospitals. The purchase price was Rp137 a share or in total Rp581 billion
Currently, the shareholders of EMTEK are Eddy K. Sariaatmadja 24.90 percent, PT Adikarsa Sarana 11.53 percent, Susanto Suwarto 12.61 percent, 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, and public 18.05 percent.
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