JAKARTA (Yosefardi) – PT Solusi Tunas Pratama Tbk (SUPR), telecommunication tower provider, mulls to raise Rp675 billion through private placement of 79 million shares, or 10% of its enlarged capital.
The placement will be priced at Rp8502 per share. The company shareholders have approved the private placement proposal, to be launched within next 2 years.
SUPR plans to add 1,000 towers by end of this year. It has allocated Rp1.7 trillion fund for this project. SUPR has cash and cash equivalent of Rp400.06 billion.
SUPR booked net profit of Rp42.8 billion in first quarter (Q1) of this year, declined 17.4% from Rp51.8 billion in the same period of last year. Earning per share (EPS) was Rp53.89.
Revenue jumped 51% to Rp245.06 billion from previous Rp162.66 billion. Cost of revenue increased 31.5% to Rp47.84 billion. Operating expenses also rose 50% to Rp22.52 billion.
Its assets totaled Rp6.42 trillion while liability amounted Rp4.13 trillion. It has cash and cash equivalent of Rp400.07 billion.