JAKARTA - PT MNC Land Tbk (KPIG) arranges the issuance of 8.86 billion shares of IDR 100 each in private placement. This plan will be carried out at least within two years after being approved during the Extraordinary General Shareholders Meeting on June 28.

In the information disclosure quoted Tuesday (23/5), the proceeds of this corporate action will be utilised to fund the property project in the Special Economic Zone of MNC Lido City. The project in question comprises the completion of World Champion standard, 18-hole golf course, as well as the development of Lido Lake Resort Extension, Lido World Garden, and MNC Park.

As of now, KPIG's authorised capital is IDR 29.50 trillion, while its issued and paid-up capital clocks up to IDR 8.86 trillion, and the stock in its portfolio equals IDR 20.63 trillion. The listed shareholders include UOB Kay Hian Hong Kong Ltd of 17.73%, PT MNC Asia Holding Tbk of 15.52%, HT Investment Development Ltd of 9.90%, boards of commissioners and directors of 1.12%, and the public of 55.63%.

After this private placement, KPIG's issued and paid-up capital will increase to IDR 9.75 trillion, while the stock in its portfolio will rise to IDR 19.74 trillion. The shareholder structure will consist of UOB Kay Hian Hong Kong Ltd of 16.12%, PT MNC Asia Holding Tbk of 14.11%, HT Investment Development Ltd of 9%, boards of commissioners and directors of 1.12%, added capital/investor of 9.09%, and the public of 50.56%. (LK/ZH)