AISA Private Placement from FKS Group. Tiga Pilar Sejahtera Food Tbk (AISA) is ready to take corporate action by increasing capital without pre-emptive rights (PMTHMETD) aka private placement. Referring to the official announcement of the Tiga Pilar company or TPS Food for the partial implementation of PMTHMETD, Tuesday (27/10).
Moreover, AISA will raise Rp 499 billion from the corporate action. It is AISA’s shareholder, PT Pangan Sejahtera Investama, will absorb the new shares issue by TPS Food with an exercise price of Rp 210 per share. Furthermore, with a private placement price of Rp 210, AISA will receive Rp 499 billion from the action.
In this corporate action, AISA will release 2.38 billion Series B shares each with a nominal value of Rp 200. Meanwhile, the share of shares for the implementation of part of the PMTHMETD will be carry out by PT Pangan Sejahtera Investama which is none other than AISA’s shareholder with 32.78% ownership.
In more detail, Pangan Sejahtera is own by FKS Food and Ingredient with 99.6% ownership. The remaining 0.4% shares are own by FKS Corporindo Indonesia. These controllers are own by a company from Singapore, FKS Food and Agri Pte Ltd (FKS Group). The schedule for the partial implementation of the private placement is as follows.
As well as, issuance of new shares and payment of new shares: November 6, 2020. Listing of new shares from private placement: November 9, 2020. Announcement of results of private placement: November 10, 2020. After the private placement, AISA’s initial total issue and paid-up capital was 4.78 billion shares will make up as many as 7.16 shares.
Referring to previous reports, AISA receive shareholder approval for the plan to issue new shares to obtain instant funds of up to Rp 1.56 trillion. A number of investors are being explore, both local and international, who wish to take some of AISA’s new shares. There are two methods design.
Namely additional capital without pre-emptive rights (non-HMETD) or private placement with a target of IDR 1.26 trillion. Through this action, AISA will issue 6 billion new shares with an exercise price of Rp 210 per share. The second step, increasing capital with pre-emptive rights or rights issue.
Referring to the plan, the maximum new shares in the rights issue will be 1.50 billion shares with a nominal value of Rp 200. Last, AISA’s target, through this action, can raise around Rp 300 billion.