MNC Land Owned By Conglomerate Hary Tanoesoedibjo Want A Private Placement Of IDR 806.25 Billion, To Help Fund The Lido City Project?

Photo: Doc. MNC Land

JAKARTA - The property development company owned by conglomerate Hary Tanoesoedibjo, PT MNC Land Tbk (KPIG) will conduct a private placement of IDR 806.25 billion in June 2022.

In an information disclosure on the Indonesia Stock Exchange (IDX) website, quoted on Monday, May 30, the company will issue 8,062,572.66 new shares with a nominal value of IDR 100 per share.

"The Capital Increase Without Pre-emptive Rights (PMTHMETD) will be carried out at an exercise price of IDR 100 per share," explained MNC Land's management.

Thus, using an exercise price of IDR 100 per share, the total funds that will be collected from this private placement will reach IDR 806.25 billion. Meanwhile, the PMTHMETD will be implemented on June 6, 2022 with the notification of PMTHMETD results on June 8, 2022. This private placement has been approved at the EGMS on June 25, 2021.

The development of Special Economic Zones (SEZ) in Lido, Bogor and Sukabumi, West Java, continues. This year, several projects will be completed in the area.

Of the total investment value of around IDR 24 trillion, MNC Group Founder Hary Tanoesoedibjo said the development of the Lido SEZ has absorbed IDR 3 trillion. This was revealed by the father of Wamenparekraf Angela Tanoesoedibjo at the QnA event with KIPG, last Thursday 7 April.

The capital expenditure has been allocated for the construction of a theme park, musical center, wall garden, and several hotels.

"Then what we will sell are villas, private clubhouses, golf memberships and land because there are those who want to build their own, it doesn't matter what's important it doesn't come out of the master plan," explained Hary.

For this year, MNC Land will prioritize the completion of the Music & Art Center which will be completed in September-October 2022. This year, movie land will also be completed, but will belong to PT Media Nusantara Citra Tbk (MNCN).

"That's part of the second semester of 2022 being completed and can be used first. Next year it will be full completion," said the man who is familiarly called HT.