Mayapada Hospital, Hospital Owned By Conglomerate Dato Tahir Will Raise IDR 1.62 Trillion From Rights Issue

JAKARTA - The management of Mayapada Hospital, PT Sejahteraraya Anugrahjaya Tbk (SRAJ), will hold an additional capital with pre-emptive rights (HMETD) or rights issue. The hospital company owned by the conglomerate Dato Sri Tahir will issue 8.14 billion shares or equivalent to 40.42 percent through a limited public offering (PUT) III mechanism.

In the SRAJ's official statement, quoted on Wednesday, October 13, the offering price in the rights issue is IDR 200 per share. As a result, the company has the potential to reap funds of IDR 1.62 trillion.

All funds obtained from the cooperative action after deducting all issuance costs will be used to pay off the debt and work capital of the company.

In detail, around 93.06 percent or equivalent to IDR 1.51 trillion will be used to pay debts to SCIC shareholders related to the series A loan facility of IDR 300 billion, Series B IDR 400 billion, Series C IDR 150 billion, Series D IDR 400 billion, Series E IDR 125 billion and Series F IDR 450 billion.

Furthermore, around 6.94 percent or equivalent to IDR 112.87 billion will be used for working capital including but not limited to purchasing medical equipment, hospital development, and others.

To carry out this corporate action, the company will hold an Extraordinary General Meeting of Shareholders (EGMS) which will be held on November 17, 2021. The date for the statement to be effective by Financial Services Authority (OJK) is on December 28, 2021.