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Friday, November 26, 2010

Inovisi will issue new shares worth IDR580.5 bio

BI / exchange
14/11/2010
Irvin Avriano A.

Inovisi will issue new shares worth IDR580.5 bio

JAKARTA: PT Inovisi Infracom Tbk intend to raise fund from a non-preemptive rights worth IDR580.5 billion for their new stock exchange with shares of two companies that want to be acquired.

In its release today, the Inovisi Corporate Secretary Benita Sofia said they will issue as many as 107.5 million new shares to the Novel Capital Ltd and True Accurate Ltd which is also investor of the two acquired companies that want the company, which is abundant Global Ltd and Great World Ltd.

To the needs, the emitter which commandeered by Jerry Djajasaputra also wanted to hold an extraordinary general meeting of shareholders (EGM) which will be held on December 13th to seek approval from their shareholders.

The company also will release its new shares at IDR5,400 level, a premium from average price of the stock for 25 consecutive days, which accounted for IDR5,398.

"The benefits from the issuance of new shares for non-preemptive rights is to realize its transactions plan with the investors immediately, so it can bring a positive impact on Inovisi financial performance, that also can be enjoyed by our existing shareholders," she said in a release.

Inovisi stock price which coded INVS closed at IDR5,400, which corrected by IDR50 or 0.92% at the end of trading last week. The price also formed a market capitalization of IDR9.19 trio.

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