JAKARTA (TheInsiderStories) - Member of MNC Group, PT MNC Studios International Tbk (IDX: MSIN) to issue new shares through a private placement scheme to get a strategic investor. After conducting a stock split, the media industry provider plans to release a maximum of 312.12 million shares.
Earlier, the subsidiary of PT Media Nusantara Citra Tbk (IDX: MNCN) has split its share value from Rp100 (US$0.007) to Rp50 a unit and offered three percent of total issued and paid up capital through a rights issue program. The approval of these corporate actions its expecting hold on Nov. 13, 2020.
Since July, Indonesian tycoon, Hary Tanoesudibjo has looking strategic partners for three companies under the the Group to raises around Rp750 billion (US$53.57 million) of funds. Beside, MNC Studios, other units to run the same program are investment firm, PT MNC Investama Tbk (IDX: BHIT) and media company, PT Global Mediacom Tbk (IDX: BMTR).
Earlier, its parent, Media Nusantara offered 173.68 million new shares through a private placement scheme. The issuer set an exercise price of Rp855 a share and will be taken by the Greater Value Partners from China.
With this implementation price, the public listed firm could obtain fresh funds of Rp148.5 billion. The plan had been approved by the shareholders on June 24, 2019. The television operator with brand RCTI and INews, targeting the implementation schedule of the rights issue on Oct. 13 and notification on Oct. 15.
On August 27, the company has completed a private placement with an exercise price of Rp855 which was taken by Scotts Capital Investment Corporation. At that time, Media Nusantara Citra made fresh funds of Rp513 billion. The funds will be used to strengthen its capital structure.
Other company, PT MNC Investama Tbk (IDX: BHIT) has released around 6.77 billion shares or 10 percent of all shares fully paid up capital. Referring to the share price until last week worth of Rp50 per share, this investment firm is expected to earned funds of around Rp339 billion.
“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.
MNC Investama‘ 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 investors 48.81 percent.
Then, MNC Studios International 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.
In addition, Global Mediacom also plans to increase capital through the same scheme. The company plans to issue as many as 1.53 billion new shares or 10 percent of the total issued and fully paid shares.
Global Mediacom is the parent company of Media Nusantara Citra by holding 57 percent ownerships. The Company is the holding company of MNC Group media companies such as RCTI, Global TV, Inews, Sindonews, Trijaya FM and others.
Previously, property owned by Tanoesoedibjo, PT MNC Land Tbk (IDX: KPIG) offered 8.06 billion shares or represent 10 percent of all shares that have been issued and fully paid.
MNC Studios is engaged in the media industry, particularly in the fields of production house, advertising and talent management.
US$1: Rp14,000
Written by Editorial Staff, Email: theinsiderstories@gmail.com
