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JAKARTA, Oct 9, 2015 - (ACN Newswire) - PT HM Sampoerna Tbk. (Sampoerna/IDX: HMSP), an affiliate of Philip Morris International Inc. (PMI), announced today the approval by shareholders of Sampoerna's plan for a Rights Issue at an Exercise Price of Rp 77,000 per share. This approval was granted during the Extraordinary General Meeting of Shareholders held today at Sampoerna's office in Jakarta.
Paul Janelle, President Director of Sampoerna, said, "This transaction will be one of the biggest stock offerings over the past year, not only in Indonesia, but in the whole of Southeast Asia. It underlines our confidence in Indonesia and the country's long-term prospects. As the country's largest tax payer and one of its leading companies, operating here for more than 100 years, we are committed to supporting Indonesia's economic development, growing Sampoerna's investment and meeting the Indonesian Stock Exchange's regulations on publicly listed
companies."
The purpose of the Rights Issue is to comply with the IDX's requirement for all publicly listed companies to have at least 7.5% of their paid-up capital owned by the public by no later than January 30, 2016. Through the Rights Issue, Sampoerna offers 269,723,076 new shares, of which PMID as the main shareholder of the Company will exercise their certain Rights in the Rights Issue. To date, PMI has held a 98.18% interest of Sampoerna's shares through PMID and has had one of the largest market capitalizations among publicly listed companies in Indonesia.
"The Rights Issue has attracted both investors from Indonesia and overseas, with the capital from foreign investors translating into other currency inflows into the country, demonstrating confidence in the Indonesian economy and its stock market. We anticipate that, after the transaction, Sampoerna could be included in the Jakarta Composite Index, thereby further strengthening the Index itself and increasing its valuation," added Mr. Janelle.
The total proceeds to Sampoerna from the Rights Issue amount to approximately Rp 20.768 trillion, which after deducting transaction-related expenses, Sampoerna intends to use for working capital purposes, including the repayment of working capital facilities. After completion of the transaction, PMID will own 92.5% of the issued and outstanding shares of Sampoerna, and 7.5% of the shares will be owned by the public. With the Rights Issue, Sampoerna will have the largest market capitalization on the Indonesia Stock Exchange.
Contact:
Muhamad Heikal
Manager Corporate & External Communications
PT HM Sampoerna Tbk.
Phone: +62 21 515 1234
Fax: +62 21 515 2234
Email: Muhamad.Heikal@Sampoerna.com
Topic: Issue of Stocks/Bonds
Source: PT HM Sampoerna Tbk
Sectors: Daily Finance, Daily News
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From the Asia Corporate News Network
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