JAKARTA (TheInsiderStories) – British Virgin Island based company, Charlton Group Holdings Ltd. will absorb PT Global Mediacom Tbk (IDX: BMTR) shares, said the company yesterday (08/14). The issuer has sets the private placement price Rp200 (US$0.013) a share. The company plans to issue as many as 700 million new shares in this month.
The transaction makes Charlton owned 4.36 percent of the media and investment firm shares.This is not the first time Charlton has become an MNC Group investor. Previously, the company was absorbed 3.98 million shares of PT MNC Investama Tbk (IDX: BHIT) when conducting a private placement in October 2018 ago.
The holding companies of PT Media Nusantara Citra Tbk (IDX: MNCN) and PT MNC Vision Networks Tbk (IDX: IPTV) will raise funds around Rp140 billion and would use to improve the company’ capital and financial structure also to increase the stock liquidity. The management wrote on July 7, “The company opens for the strategic investors who are interested in investing their capital.”
The current shareholders of the issuer are PT MNC Investama Tbk (IDX: BHIT) amounting to 49.94 percent and public 50.06 percent. After the rights issue, the parent’ shares will diluted to 45.30 percent and public will be 54.7 percent. Its current shareholders are HT Investment Development Ltd 19.54 percent, Caravaggio Holdings Limited 12.28 percent, New Ascend 11.08 percent, PT Bhakti Panjiwira 7.77 percent, public 48.81 percent.
Another company belonging to Indonesian tycoon, Hary Tanoesoebibjo, PT MNC Land Tbk (IDX: KPIG), also plans to increase capital through a private placement scheme. The number of new shares issued was 8.06 billion shares or 10 percent of the total paid-up capital and issued shares of the property developer.
Other firm under the MNC Group also plans to find strategic partners through the private placement scheme in the second semester of 2020. Beside Global Mediacom and MNC Investama, its sister company, PT MNC Studios International Tbk (IDX: MSIN) also have same plans.
“The company can invite strategic investors who are interested in investing their capital in the company in order to provide added value to the company’s performance,” writes management.
Then, MNC Studios plans to add as many as 520.20 million shares to the company or 10 percent of the total issued and fully paid shares in the company as of December 31, 2019. The company currently has a stock price of Rp250 per share. With this price reference, the estimated value of this private placement is around Rp130 billion.
“I am motivated by the results we got in the second quarter of 2020. Despite experiencing negative growth for this semester, I firmly believe that we have passed the worst times for the media industry in terms of advertising spending,” said the owner in a public expose last week.
For second half of this year, he assured that the Group will record much better performance than first semester.
–Updated on August 14 at 08.49 a.m.
Written by Editorial Staff, Email: firstname.lastname@example.org