Agung Podomoro Land Sells Neo Soho Mall For IDR 1.43 Trillion, APLN's Share Price Soars

Rupiah illustration (Photo: dock. Antara)

JAKARTA - PT Agung Podomoro Land Tbk (APLN) has sold certificates of ownership of apartment units (SHMSRS) for Neo Soho shopping centers (Mal). The transaction is worth IDR 1.43 trillion.

Citing information disclosure, Wednesday, September 27, through its subsidiary, PT Tiara Metropolitan Indah (TMI) sold 152 SHMSRS for units of mall flats to PT NSM Assets Indonesia (NSMAI).

In connection with the funds received from NSMAI, TMI will use some of the funds to make new shares in NSMAI as many as 4,335,577 (4.34 million) series B shares.

The total share of series B will represent 28.58 percent of all issued and fully paid capital in NSMAI or the new share of shares.

After TMI makes new shares and makes payments for related costs and taxes, the remaining funds will be given to the company, among others through dividend distribution.

Furthermore, the dividend fund will be used by the company to partially pay the company's debt to PT Bank Danamon Indonesia Tbk (BDMN) amounting to Rp850 billion or according to the credit agreement.

Transactions have no negative impact on the company's operational, legal, financial condition or business continuity activities considering that the company will get financial benefits obtained by transactions.

Where, most of the funds obtained by TMI from the transaction will be distributed by TMI to the company as dividends. Later, the company will use it to repay some of the company's debts to lenders based on credit agreements.

From VOI's observation, APLN's share price increased 6 points or 4.2 percent to IDR 149 per share. The highest trading position today is IDR 165 and the lowest is IDR 142.