The purchaser is the majority shareholder siaganya Smart Telecom. They are PT Bali Media Telecommunications, PT Wahana Inti Nusantara and PT Global Nusa Data. With ownership of it, then after the rights issue, the three companies will hold a majority stake FREN.
"All three will have a 55 percent stake in FREN after PUT (public offering) I," he said in Jakarta on Wednesday (01/12/2011). The Jerash Investment Ltd which previously controlled about 17 percent of the shares FREN diluted to only 5 percent. While the public shareholding below the 5 percent decrease from about 58 percent to 21 percent.
The rest, which represents institutional investors with stock ownership above 5 percent is also shrunk from about 35 percent to only 9 percent.
As is known, FREN without pre-emptive rights issue rights issue as much as 74.072 billion shares diharga Rp 50 per share. From the offering of shares ended on Tuesday (01/11/2011) that, FREN obtain fresh funds of about USD 3.7 trillion.
All funds will be used by the company which was founded halo-halo Hary Tanoesoedibjo it to acquire 57 percent shares of Smart Telecom. Due to little public absorption, and the purchaser is the majority shareholder siaganya Smart Telecom, then it can be said that the acquisition of Smart Telecom FREN.
Smart Telecom is one of the Sinarmas Group's business entities in the telecommunications sector that are not listed on the stock. While FREN is the issuer. With a majority ownership in FREN, the Smart Telecom indirectly participated are listed on the bourses.
Chris said the remaining shares that are not absorbed by the buyer will be executed no later than next week's standby. So that the acquisition could be completed late this January. "File-file is being taken care of," he said.
Hopefully, he added, this consolidation could boost performance FREN forward. The reason is, there will be many new products that will be issued by the combined company.