Mitra Telekomunikasi prepares for private placement and new controlling shareholder
Jakarta (ANTARA) - PT Mitra Telekomunikasi Nusantara Tbk (MKNT) is set to carry out a non-pre-emptive share issuance (PMTHMETD), or private placement, which will change the company’s ownership structure and bring in a new controlling shareholder.
“This corporate action aims to strengthen the capital structure, improve the financial balance sheet by reducing liabilities, and provide greater room for business expansion going forward,” said Mitra Telekomunikasi Nusantara’s management in a statement received in Jakarta on Monday.
Through the private placement, PT Headwell Bintang Energi Hijau (HBEH) is projected to become the new controlling shareholder with ownership of 668 billion shares, or 64.85 percent of MKNT’s total shares.
Meanwhile, PT Mantra Capital Persada (MCP) is expected to hold 156.49 billion shares, or 15.19 percent, meaning HBEH and MCP will together control around 80.04 percent of MKNT’s shares after the private placement.
“However, the plan to issue more than one trillion new shares could also draw market attention, as it may have a dilutive effect on the ownership of existing shareholders,” MKNT’s management said.
Under the private placement, the company will issue 1.02 trillion Series B shares as part of a financial restructuring and the completion of previously planned transactions.
Some 822.92 billion shares will be issued to convert creditors’ debts into equity, potentially reducing the company’s liabilities significantly.
A further 200 billion new shares will be issued to five independent investors who have committed to injecting fresh funds totalling Rp200 billion.
The five investors are Suripto, John Veter Firdaus, and Antony Lesmana, who have each committed Rp50 billion, while Daniel Tejakusuma and Rossa Linna will each inject Rp25 billion.
In addition, PT Mantra Capital Persada (MCP) will inject Rp1.56 billion, which will be used to settle the purchase of PT RUM shares through the issuance of 1.56 billion new shares.
On the business expansion front, the company has signed a share sale and purchase deed relating to the acquisition of shares from Headwell Investment Limited and PT Mazon Bumi Mining, as part of its restructuring and business development strategy.
After the private placement, MKNT’s management projects that the company’s issued and paid-up capital will increase by around Rp1.02 trillion, with assets rising by Rp201.56 billion thanks to fresh funds from investors.
Meanwhile, liabilities are projected to fall by Rp822.93 billion through the debt-to-equity conversion mechanism.
To carry out the private placement, the company will first seek shareholders’ approval for the PMTHMETD plan at an extraordinary general meeting of shareholders (EGMS) scheduled for 24 August 2026.