JAKARTA (Yosefardi) – PT Panasia Indo Resources Tbk (HDTX), engaged in textile, mining, energy and trading, plans to issue 2.068 billion new shares, through private placement mechanism, priced at Rp554.6 per share, to raise total proceeds of Rp1.14 trillion. After the new shares issuance, the company’s total issued and paid-up shares capital amounts 3.6 billion or Rp1.8 trillion.
This new shares will be allocated to 3 creditors; Gold Gazelle Profits, Lucky Heights Resources Limited, and Ortega Management Limited. With the debt-to-equity conversion, Gazelle will hold 19.63% HDTX shares, Lucky to own 27.77% and Ortega to hold 10.05%.
Meanwhile Mercury Capital International Inc will maintain 9.72% HDTX shares from current 22.85%, Prime Invesco Limited to hold 9.49% (current 22.3%), PT Panasia Synthetic Abadi to maintain 19.05% (current 44.76%), and public investors’ ownership will be cut to 4.26% from currrent 10.09%.
HDTX suffered loss of Rp105.48 billion in 2014 on net sales of Rp1.17 trillion. Its assets totaled Rp4.2 trillion while liability amounted Rp3.6 trillion.