JAKARTA (Yosefardi) – PT Island Concepts Indonesia Tbk (ICON) plans to issue 363.25 million new shares, representing 33% of its enlarged capital, through pre-emptive rights scheme.
The exercise price of rights is set for Rp300 per share, to raise total proceeds of Rp108.97 billion. Each shareholder with 2 old shares recorded at November 28, 2013 will be entitled to buy new shares. Trading of rights is scheduled for December 2-6, 2013.
The company will use Rp60 billion proceeds for acquiring 75% stake in BLM while the rest is for working capital. ICON is engaged in accomodation and cathering services. BLM plans to build Beach Club on 2.2 hectares land in Jimbaran, Bali. BLM is owned by PT Nuansa Hijau Lestari (99%), and Hans Halim (1%).
ICON booked net profit of Rp0.5 billion in first half of this year on operating income of Rp43.23 billion. Its assets totaled Rp73.09 billion while liability amounted Rp53.05 billion.