JAKARTA - PT Lima Dua Lima Tiga Tbk (LUCY), a restaurant chain managing company, will acquire 51% of PT Kreasi Sejahtera Bahagia (KSB) and 54% of PT Graha Senopati Sentosa (GSS). The fund source for this plan originates from the proceeds of the upcoming rights issue to be held in the third week of January 2024.

In the prospectus quoted Wednesday (3/1), LUCY is said to take over 4,860 shares or 54% of GSS for IDR 23 billion. It is higher than the market value of GSS as of December 31, 2022. Furthermore, to acquire 51% or 5,151 shares of KSB, LUCY prepares IDR 11 billion, also higher than the market value recorded in December 2023 of IDR 10.36 billion.

The acquisition of these two companies has gained approval during the Extraordinary General Meeting of Shareholders on May 23, 2023.

The source of fund for this acquisition plan is the proceeds of a rights issue of 584.77 million shares with an offering price of IDR 150 per share. The total proceeds are targeted to reach IDR 87.71 billion. The remaining proceeds from this corporate action will be used as capital expenditure budget to fund opening of several new outlets in various locations, including North Sumatra, Bali, South Sulawesi, Jakarta, Banten, West Java, Central Java, East Java, and South Kalimantan. (LK/ZH)