JAKARTA - PT Panca Mitra Multiperdana Tbk (PMMP) is planning a capital increase without pre-emptive rights, also known as a private placement, by issuing 253.3 million new shares worth IDR 100 each on January 11, 2024.

“Private placement will be carried out with the offering price of IDR 336 per share,” said the management in the official disclosure of PMMP published on Indonesia Stock Exchange (IDX) today (4/1).

After the private placement, total issued and paid-up capital of PMMP will increase from 2.35 billion shares to 2.6 billion.

Several companies that will channel capital investment in this corporate action are PT Udang Investama Kapital of 100 million shares worth IDR 33.6 billion, followed by PT Leader Berkat Anugrah of 100 million shares worth IDR 33.6 bilion, and PT Kalbut Indah Makmur of 35.3 million shares worth IDR 11.86 billion.

In other words, the total proceeds gained by PMMP in this corporate action will amount to IDR 79 billion. The proceeds will be utilised by PMMP as working capital, including purchasing shrimp and supporting materials for production.

With these investments from three companies, the stock portion of PMMP’s initial shareholders will be diluted. The portion of PT Tiga Makin Jaya will decline from 43% to 39.09%, Soesilo Soebardjo from 24.65% to 22.41%, Martinus Soesilo from 8.5% to 7.73%, PT Harapan Bangsa Kita from 8% to 7.27%, Hirawan Tedjokoesoemo from 0.85% to 0.77%, and the public from 15% to 13.64%.

In the meantime, PT Udang Investama Kapital and PT Leader Berkat Anugrah will gain stock percentage in PMMP of 3.86% each, while PT Kalbut Indah Makmur will claim the remaining 1.36%. (ZH)