JAKARTA: PT Trikomsel Oke Tk will increase its capital to IDR1.07 trillion to acquire PT Global Teleshop this year.
The figure will be divided into initial public offering and rights issue of mandatory convertibles bonds.
Trikomsel will release 311.5 million shares through rights issue worth IDR266.64 billion and Trikomsel Oke 2012 mandatory convertible bonds worth IDR807.55 billion.
Some of the proceeds will be used to acquire PT Global Teleshop, Said Trikomsel' Presaident Director Sugiono.
"This acquisition will accelerate Trikomsel growth who currently have retails and distributions network in 175 cities," he said during extraordinary general meeting of shareholders today, June 18.
The meeting also decided that every holder of 500 shares entitled with 35 preemptive rights for A Series and 106 for B Series.
One A Series preemptive rights entitled with one new share while one B Series preemptive rights entitled with one mandatory convertible bonds worth IDR856.
The bonds has 3% interest per year due in 5 years with conversion period starting in the 43-month and the 60-month. Mandatory convertible will be converted into shares at a conversion ratio of 1:1. Interest will be paid when the conversion occur. (T05/aph)
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