JAKARTA (Yosefardi) – Shipping company PT Buana Listya Tama Tbk (BULL), subsidiary of shipping company PT Berlian Laju Tanker Tbk (BLTA), plans to issue 220.62 million new shares through preemptive rights scheme.
The company also plans to launch the reverse stock, from 8 shares with par value of Rp100 each to one share with par value of Rp800.
This is part of BULL’s debt restructuring agreement with Orchard Center Mater Limited (MLOR) signed in December 30, 2014.
After rights issue and reverse stock, MLOR holds 9.09% BULL shares. While UOB Ky Hian controls 29.87%, Kidson Pte Ltd 13.44%, PT Southeast Capital Investment 10.39%, PT Goldsachs Capital Investment 10%, PT Benakat Integra Tbk 9.36%, and public 17.84%.