Nusantara Infrastructure Plans to Issue Non-Preemptive Rights by Offering 1.5 Billion Shares To Raise Capital

Nusantara Infrastructure Plans to Issue Non-Preemptive Rights by Offering 1.5 Billion Shares To Raise Capital

12 August 2014
Author: Administrator

On August 12, 2014 in Jakarta, PT Nusantara Infrastructure Tbk (NI, stock code: META) plans to issue a maximum 10% of shares that have been circulating in the market through non-preemptive rights mechanism. NI targeted to release 1.52 billion maximum shares, or 10% maximum, with an estimated offering price of Rp250 per share.
 
General Manager of Corporate Affairs of NI Deden Rochmawaty said that the funds from the issuance will be used to increase the capital of its subsidiary. This corporate action -that will be held in October 2014- is NI’s strategy for business expansion, one of which is to develop telecommunication towers business. Before this event, NI will first hold an Extraordinary General Meeting of Shareholders (EGMS) in September 2014 to seek approval.
 
Currently, the circulating META in the market is 15.2 billion pieces. At the end of 2013, NI entered the newest sector ie telecommunication tower by acquiring a majority stake of PT Tara Cell Intrabuana (TCI) through PT Telekom Infranusantara, a subsidiary of NI. This would expand the Company's presence in the telecommunication tower infrastructure sector. NI targeted of 500 towers by the end of 2014.
 

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