Pay Debt, Smartfren Rights Issue Rp 1.3 Trillion
PT Smartfren Telecom Tbk (FREN) plans to roll out public offering limited (PUT) II aka right issues 13.36 billion pieces (667%) stock. The funds could be hounded in this corporate action Usd 1.34 trillion.
Rights issue funding results, as much as 75% will be used coded FREN issuers to pay debts. While the rest for working capital.
On the basis of the prospectus summary of the company, Thursday (29/12/2011), the price of shares in the execution of this limited offer was set at Rp 100. Each holder of shares of series A or series B, will obtain two right ordering effects in advance (HMETD).
While one HMETD, can be used to purchase one share of series C. HMETD can be traded within or outside the Exchange started 13 February to 17 February 2012.
The company will seek shareholder approval for corporate action in the EGM held on 30 January 2012. In addition to the rights issue, the company will also require approval by the addition of a nominal value of shares (a reverse stock split).
The plan, the company's series A shares are worth face value of Rp 100 to Rp 2,000, and the series B of the face value of Rp 100 to Rp 1,000 so. Also an increase in authorized capital of the company so 27,77 trillion Usd.
