Surya Citra Media (
The company previously already announced (Mar-Apr 2019) intention to acquire online media companies and non-preemptive right issue (PMTHMETD) plan to fund the acquisition (max. Rp360bn; affiliated transaction) and remaining proceed for working capital and/or acquisition funding aligned with company's growth and strategy.
EGM on 16 May approved the acquisition plan. The number of shares to be issued as PMTHMETD is max. 10% of capital issued and fully paid (max. 1.46bn shares) with est. proceed of c.Rp3.6tn. Based on max. target proceed and max. number of shares issued mentioned in news above, we calculate the PMTHMETD plan implies average price of Rp2452/sh.
After acquisition of 3 digital companies, digital media division's potential contribution to
AGM yesterday approved final dividend of Rp31sh (implying yield of 2%; excluding interim dividend) - cum date 24 May.
Sumber : IPS RESEARCH
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