JAKARTA (Yosefardi) – Property developer PT MNC Land Tbk kicks off its 1.33 billion new shares offering, or rights issue, through pre-emptive rights scheme, representing 21.1% of its enlarged capital.
The exercise price is set at Rp1,520, to raise total proceeds of Rp2.02 trillion. Each shareholder with 7 old shares recorded at January 7, 2014 will be entitled to buy 2 new shares. Trading of rights is scheduled for January 9, 2014 to February 21, 2014.
The rights issue proceeds will be used to acquire PT Bali Nirwana Resort from PT Pratama Prima Investama (Rp956 billion/55.9%), to acquire land area (Rp600 billion), and for working capital (Rp460.67 billion).
The company plans to build MNC Media Tower which costs Rp1.96 trillion.
The company is also now building MNC Tower Surabaya by unit PT Swarna Citra Sentosa which costs Rp138 billion and building One East Residences, Oakwood Serviced Apartments & One Avenue Retail Arcade by unit PT Investasi Hasil Sejahtera which costs Rp660 billion.