JAKARTA (Yosefardi) – PT Pusako Tarinka Tbk, engaged in hotel business, plans to issue 1.27 billion new shares through pre-emptive rights scheme, representing 93.95% of its enlarged capital, priced at Rp500, to raise 635.5 billion in total.
It will also issue 28.7 million warrants, priced at Rp500, to raise proceeds of Rp14.35 billion. Each shareholder with 2 old shares recorded at 8 April 2014 will be entitled to buy 31 new shares. Trading of rights is scheduled for April 10-16, 2014.
The proceeds of rights issue will be used to pay promissory notes to RPH and PT Crio amounting Rp615 billion and to fund hotel business amounting Rp20.5 billion.
After rights issue, RPHI will hold 65.76% stake in Pusako Tarinka while PT Crio will own 28.18%.