The Company Owned by The Conglomerate Hary Tanoesoedibjo Receive Funds of IDR 164.32 Billion

JAKARTA - PT MNC Studios International Tbk (MSIN) plans to increase capital through a scheme without pre-emptive rights for PMTHMETD or a private placement of IDR 1.04 billion shares.

The private placement price is set at IDR 158 per share. Thus, from this corporate action, the company owned by conglomerate Hary Tanoesoedibjo will receive funds of IDR 164.32 billion.

Quoted from the disclosure of information on the Indonesia Stock Exchange website, the implementation of additional capital will be carried out today, February 5, 2021. As for the notification of the results of the implementation of additional capital on February 9, 2021.

"The additional capital will be implemented at an exercise price of IDR 158 per share", wrote the Directors of MNC Studios.

As is known, the MNC Studios Extraordinary General Meeting of Shareholders (EGMS) on November 13, 2020, approved a plan to increase the capital by a maximum of 3 percent.

In addition, the shareholders also agreed to split the par value of the shares at a ratio of 1:2 from the previous IDR 100 per share to IDR 50 per share.

MNC Studios is a company that provides television program content production and distributes television and film programs in Indonesia. This company was founded on May 8, 2018, by conglomerate Hary Tanoesoedibjo

Currently, the largest shareholder composition of MNC Studios is PT. Media Nusantara Citra Tbk, with 70.19 percent ownership as the controlling company. Furthermore, PT MNC International Middle East Limited with ownership of 14.35 percent. The rest is held by the public by 15.41 percent.

On Friday, February 5 trading, MSIN's share price closed down 5.11 percent to the level of IDR 167 per share. Meanwhile, the company's market capitalization value on the Indonesia Stock Exchange (BEI) is IDR 1.91 trillion.