JAKARTA (Yosefardi) – PT Modern Internasional Tbk (MDRN), operator of 7-Eleven franchise outlets, plans raise Rp273.23 billion through shares private placement.
The company will issue 415.88 million new shares, priced at Rp657 per share, representing 10% of its enlarged capital. The proceeds will be used to funding the expansion of 7-Eleven outlets.
The company will hold extraordinary general meeting (EGM) of shareholders in July 10, 2014 to seek approval on the plan. MDRN booked net profit of Rp49.23 billion last year on revenues of Rp1.27 trillion. Its assets totaled Rp1.88 trillion while liability amounted Rp855.57 billion.