JAKARTA. PT MAP Boga Adiperkasa Tbk (MAPB), the holder of several international brands’ franchises in Indonesia, such as Starbucks and Krispy Kreme, will issue 217.09 million new shares under the scheme of capital raise without pre-emptive rights or private placement.

The entire rights issued by MPB are equal to 10% of its issued and paid-up capital. Each share has a face value of IDR 100.

In the information disclosure in Indonesia Stock Exchange (IDX) today (12/5), the management said that this corporate action is intended to enhance its capital structure. On top of this, the private placement will be used to meet the required free-float level of at least 50 million shares or 7.5% of the total outstanding shares.

“The company has yet to obtain further details regarding the potential investors that will be involved in this private placement,” the management of MAPB said.

In the future, the proceeds of this private placement will be utilised by MAPB to expand its business, including opening new stores, increasing the working capital, and funding operations of the company.

As of now, approximately 79.09% of MAPB is under the control of PT Mitra Adiperkasa Tbk (MAPI). Ga Robusta claims another 19.4%, followed by PT Premier Capital Investment of 0.0001%, directors and commissioners of 0.3%, and public investors of only 1.19%. After the private placement, the portion of the public is estimated to rise to 9.09%. (KR/ZH)