JAKARTA - PT Multipolar Tbk will pocket fresh funds of Rp.995.92 billion. The funds came from the issuance of 1.99 billion new shares with an exercise price of Rp500 per share.
Citing the company's offer document, the company owned by the conglomerate Mochtar Riady released 11.98 percent of the new shares through a pre-emptive right (HMETD). The offering is that every 51 common shares in the names of classes A, B, and C whose names are listed on March 18, can get seven Preemptive Rights, where one Preemptive Rights has the right to buy one new share.
"The new shares offered in the context of PMHMETD VII by issuing this Preemptive Rights are entirely shares issued from the Company's portfolio with a nominal value of Rp. 100 per share," the Mulipolar offer document said, quoted on Thursday 10 March.
Multipolar also doesn't have to wait long to get the target funds from the Pre-emptive Rights. This is because the company's main shareholder, PT Inti Anugerah Pratama (IAP) will exercise all of the Pre-emptive Rights of 761.92 million or equivalent to Rp. 380.96 billion.
In fact, IAP will also absorb the remaining shares of Multipolar's Pre-emptive Rights if no other investors take part of its rights, a maximum of 278.08 million shares. Its value is around Rp. 139.04 billion.
As additional information, from the funds raised through the Pre-emptive Rights, Multipolar will use as much as Rp. 90 billion to pay off the loan facility to Bank CIMB Niaga, Rp. 174 billion or the equivalent of 12 million US dollars to pay off debt to Bank BNI, and the rest will be used for business development. company, or direct investment through subsidiary companies.
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