Pratama Industri (PANI) Rights Issue of 13 Billion Shares, Revealed Who's the Alert Buyer!
6/14/2022
PT Pratama Abadi Nusa Industri Tbk (PANI) will hold additional capital with pre-emptive rights (PMHMETD) or rights issue of 13.12 billion shares with a nominal value of Rp 100 per share.
The number of shares issued is a maximum of 96.97% of the total shares of the company that have been issued and fully paid after this Limited Public Offering (PUT) I. The price of the rights issue will be determined later.
PT Multi Artha Pratama (MAP) as the main shareholder of the company which owns 80% of the shares of the total issued and paid-up capital in the company has stated that it will exercise all the Preemptive Rights which are its rights in the PUT I of 10.496 billion Rights.
If the new shares offered in this PUT I are not entirely subscribed to by the holders of the Preemptive Rights certificate (SBHMETD), then the remainder will be allocated to other shareholders who place an order greater than their rights proportionally based on the number of Rights that have been exercised by each. shareholders who request additional securities based on the exercise price.
If after the allocation there are still remaining shares from the amount offered, the standby buyer will take or buy all the remaining shares at a price equal to the exercise price. The standby buyer is the main shareholder, namely MAP.
MAP itself is 50% owned by PT Agung Sedayu and the remaining 50% by PT Tunas Mekar Jaya. MAP is located at Pantai Indah Kapuk, North Jakarta.
"MAP as a standby buyer will buy all the remaining new shares that are not subscribed by shareholders at the exercise price," explained PANI's information disclosure, Monday (13/6/2022).
The last date for the exercise of the Preemptive Rights is August 10, 2022 where rights that are not exercised after that date are no longer valid. In the event that the shareholder has Preemptive Rights in the form of a fraction, it will be rounded down , in which the rights to the new fraction of shares will belong to the company and must be sold by the company and the proceeds from the sale will be entered into the company's account.
Shareholders who do not exercise their rights to purchase new shares offered in this PUT I in accordance with their Pre-emptive Rights will experience a decrease in their share ownership percentage (diluted) by a maximum of 96.97%.
All funds obtained by PANI from the PUT I, after deducting the issuance costs which are the company's obligations, will be used in the amount of Rp. 6.49 trillion for investment and business development, namely by investing in new shares to be issued by PT Bangun Kosambi Sukses. (BKS), an affiliated company in the real estate , as much as 51% of the issued and paid-up capital in BKS.
Furthermore, BKS will invest and develop business by investing in new shares to be issued by PT Mega Andalan Sukses (MAS) and PT Cahaya Gemilang Indah Cemerlang (CGIC), both of which are affiliated companies in the real estate , amounting to 51% of the issued and paid-up capital in MAS and CGIC, respectively, with a value of Rp. 4.69 trillion, BKS will be allocated to MAS and Rp. 1.79 trillion will be allocated by BKS to CGIC, the funds of which will be used by MAS and CGIC for debt repayment. principal to affiliated parties. The rest is for PANI's working capital.
The following is an indication of the schedule rights issue , namely cum-HMETD in the regular market and negotiating market on 29 July 2022, cum-HMETD in the cash market on August 2, 2022, ex-HMETD in the regular market and negotiating market on August 1, 2022, ex-HMETD in the cash market August 3, 2022, recording date August 2, 2022.
