JAKARTA (Yosefardi) – PT Capitalinc Investment Tbk (MTFN) plans to issue 27.83 billion new shares, representing 87.41% of its enlarged capital, through pre-emptive rights scheme.
The exercise price is set at Rp100 per unit, then the company will raise total proceeds of Rp2.78 trillion. Each shareholder recorded at March 20, 2014 with 18 old shares will be entitled to buy 125 new shares.
PT Samuel International will act as standby buyer. Trading of rights is scheduled for March 24-28, 2014. The rights issue proceeds will be used to fund the acquisition of Owen Holdings from Densel Ventures Ltd and OG Resources Limited (93.48%) and for working capital of units (6.52%).
Owen holds 49% stake in EIBL, owner of EMP ONWJ Ltd which has 36.72% working interest in ONWJ PSC block. Capitalinc and the sellers have in January 30, 2104 signed conditional share sale and purchase (CSPA) for the transaction.