JAKARTA - PT Indoritel Makmur Internasional Tbk (DNET) will increase its stake by 1.67% through a private placement of PT Fast Food Indonesia Tbk (FAST). The company's investment participation is higher than other FAST shareholders.

In a brief prospectus quoted on Wednesday (19/3), FAST will add 533.33 million shares at a price of IDR 150 per share. If calculated, the transaction value reaches IDR 80 billion. The proceeds from this corporate action will be used to improve the company's working capital to IDR332.54 billion from IDR252.54 billion and increase the company's liability-to-equity ratio to 10.46 times from 14.09 times.

Currently, FAST has an authorised capital of IDR 798 billion, consisting of issued and fully paid capital of IDR 199.51 billion and portepel shares of IDR 598.48 billion. The share structure is PT Gelael Pratama (GP) 40%, DNET 35.84%, BBH Luxembourg 7.90%, the public 16.18%, and treasury shares 0.08% of the company's issued and fully paid-up capital.

Post private placement, GP will increase its stake by 1.18% to 41.18% from 40% and DNET by 1.67% to 37.51% from 35.84%. Meanwhile, BBH Luxembourg's share will decrease to 6.97% from 7.90%, the public to 14.7% from 16.18%, and treasury shares to 0.07% from 0.08%.

Currently, DNET has 14.18 billion shares. The shareholder structure is Hannawell Group Limited 39.35%, PT Megah Eraraharja 20.3%, Anthoni Salim 25.3%, and the public 15.2%. The number of shareholders is 1,065 and the ultimate beneficiary of share ownership is Anthoni Salim. (LK/LM)