JAKARTA – Shareholders of PT Pantai Indah Kapuk Dua Tbk (PANI) approve the plan of private placement, which will issue a maximum 10% of its issued and paid-up capital of IDR 15.62 billion.

Sugianto Kusuma, Director of PANI, clarified that the company has reached an agreement with shareholders to continue developing the business supported by private placement activities.

“In terms of sales, in Q1 2024, we secured IDR 1.5 trillion, which means we are still on track to attain IDR 5.5 trillion [at the end of the year],” Kusuma said in the press release quoted Friday (28/6).

The private placement will be issued no later than 24 months after being approved by shareholders during Extraordinary General Meeting of Shareholders (EGMS) yesterday (26/6). The raised funds will then be used to enhance capital in order to drive business development and improve financial position of the company.

Prior to private placement, PANI’s authorised capital was IDR 5 trillion, issued and paid-up capital was IDR 1.56 trillion, and the stock in its portfolio was IDR 3.43 trillion. Shareholders consist of only PT Multi Artha Pratama (MAP) 89.02% and the public 10.08%.

The issued and paid-up capital will rise to IDR 1.71 trillion, with shareholder structure made up of MAP of 81.09%, the public of 9.82%, and new investor of 9.09%. (LK/ZH)