PT Prime Capital Asia officially becomes the controlling shareholder of PT Mitra Investindo Tbk (MITI) following  Prime Capital exercised its rights to increase capital with pre-emptive rights or rights issue held by Mitra Investindo.

Mitra Investindo Director Diah Pertiwi Gandhi said Prime Capital Asia had absorbed 1.4 billion class B shares in the rights issue. The exercise price of the right issue is Rp50. Prime Capital Asia also took 300 million shares that other shareholders did not subscribe to; the total shares absorbed by Prime Capital Asia reached 1.7 billion shares or 69.59 percent of the company's total shares.

"Therefore, Prime Capital Asia is the controlling shareholder of Mitra Investindo," said Diah in a written statement on Thursday (11/2).

The requirements for becoming a controlling shareholder according to OJK regulations are to have shares of 50 percent of the total ownership. Then, it can determine, in any way, the company's management policy.

Furthermore, Prime Capital Asia will deposit 1.4 billion shares, which are absorbed in non-money forms. Prime Capital Asia will invest 99.81 percent of PT Wasesa Line's shares in a rights issue. Therefore, after the rights issue, Mitra Investindo will consolidate the financial statements of Wasesa Line.

The Wasesa Line is a company engaged in the domestic shipping business to transport people or goods as a support vessel vehicle in offshore oil production activities.

"By consolidating Wasesa Line, it can make a positive contribution to the company," said Diah.

After becoming the controlling shareholder, Prime Capital Asia will conduct a tender offer for all shares in the company owned by the public. The tender offer will be announced through further disclosure of information.

For information, Prime Capital Asia is an Indonesian company engaged in investment. Andreas Tjahjadi is the largest shareholder of this company, with ownership of 59.99 percent.