Canned Company From Agung Sedayu Group Owned By Conglomerate Sugianto Kusuma 'Aguan' To Increase Capital To IDR 2.78 Trillion

Conglomerate Sugianto Kusuma 'Aguan'. (Photo: Doc. Antara)

JAKARTA - A canning company from the Agung Sedayu Group owned by conglomerate Sugianto Kusuma "Aguan", PT Pratama Abadi Nusa Industri Tbk (PANI) will increase its authorized capital from Rp 100 billion to Rp 2.78 trillion.

Director of Multi Artha Pratama (MAP) Yohanes Edmond Budiman in an incidental public expose, Monday, March 7 yesterday, said that the company's authorized capital will be increased after the action of increasing capital with pre-emptive rights (HMETD) or rights issue.

"PANI's authorized capital is currently IDR 100 billion, after the rights issue, we will increase it to IDR 2.788 trillion," said Edmond.

For information, MAP is a property company in the Pantai Indah Kapuk area, North Jakarta. PT Agung Sedayu owns 50 percent of MAP's shares and the other 50 percent is owned by PT Tunas Mekar Jaya.

Edmond continued, PANI will conduct a rights issue of a maximum of 13.12 billion new shares. The rights issue is expected to be completed in the third quarter of 2022.

The rights issue proceeds will be used to acquire the group's business in the property sector. The affiliate transaction is estimated to cost up to Rp6.49 trillion.

PANI will acquire 104,082 new shares to be issued by PT Bangun Kosambi Sukses (BKS), with a nominal value of Rp500,000 per share. This acquisition is equivalent to 51 percent share ownership in BKS.

With this acquisition, BKS will become a subsidiary of PANI. BKS will later acquire PT Mega Andalan Sukses (MAS), with a maximum of 104,082 shares with a nominal value of Rp500,000 per share or the equivalent of 51 percent.

BKS will also acquire PT Cahaya Gemilang Indah Cemerlang (CGIC) as many as 104,082 new shares, with a nominal value of IDR 500,000 per share or the equivalent of 51 percent share ownership in GCIC.