PT First Media Tbk plans to raise IDR456 billion from rights issue II mid May 2010 and the generated proceeds will be allotted for short term debt and business expansion.
The total new stocks from the rights issue are 912,421,000 with a par value of IDR500. The total fund tapped from the action will be about IDR456 billion.
The company plans to use 60 percent or IDR272 billion for pay the matured corporate debt this year and the other 40 percent is for working capital and business development.
The company plans to use 60 percent or IDR272 billion for pay the matured corporate debt this year and the other 40 percent is for working capital and business development.
Based on 2009 finance statement, it shows their total company obligation stood IDR1.33 trillion or rose14.7 percent as from IDR1.16 trillion in 2008.
Last year the company garnered IDR722.46 billion or increased 36.4 percent from IDR529.55 billion. the 2009 net profit stood at IDR32.77 billion. The company suffered fro IDR94.87 billion net losses in the previous year.
The extraordinary general meeting of shareholders approved the issuance of II series 130,345, 914 warrants. The rights issue uses 10:11 ratio. It means every 10 former stock holders has the rights to buy 11 new shares. The II series warrant ratio was 7:1.
The extraordinary general meeting of shareholders approved the issuance of II series 130,345, 914 warrants. The rights issue uses 10:11 ratio. It means every 10 former stock holders has the rights to buy 11 new shares. The II series warrant ratio was 7:1.
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