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6/11/11

Malindo Feedmill re Rights Issue Plan?

Author: Andrew Timothy
JAKARTA -Make Money Blog$; Manufacturer of integrated feed andlivestock, PT Malindo Feedmill Tbk (MAIN), back plans to issuerestricted shares without preemptive (nonpre-emptive rights). The Company expects approval by the Capital Market Supervisory Agency and Financial Institution Supervisory Agency (Bapepam-​​LK) in July.



"Currently we are conducting negotiations with strategic investorsincluding Amnah Bint Ibrahim. The decision will greatly depend onthe rights issue negotiation," said Ong Beng Siong MAIN Directorin Jakarta, Thursday (9 / 6).

Previously, the company said that the plan was canceled following the withdrawal of rights issue Ammah Bint Ibrahim, a strategicinvestor who will absorb the new shares to be issued by the company in 2012. In a plan submitted earlier, MAIN will issue new shares as much as 10% of the total shares issued and fully paid shares at a price per share Rp4.462.

The Company will obtain fresh funds amounting to Rp151, 26 billion. The result of the issuance of new shares, the company willuse as much as 66% or 100 billion to finance the construction offeed mills and farms.

Before conducting a rights offering, the company first split value(stock split) with a ratio of 1: 5. Thus, the nominal value of sharesthe company will be Rp20 from the current Rp 100. (Atp/OL-5)
source: mediaindonesia.com
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