PT Sarana Meditama Metropolitan Tbk (SAME) targets proceeds from the limited public offering I or rights issue worth Rp1.19 trillion.

The achievement is based on the number of new shares to be issued, reaching 5.99 billion units, equivalent to 50.42% of the issued and fully paid capital at Rp200 per share.

In the prospectus submitted to the Indonesia Stock Exchange (IDX), Friday (5/3), The company set the rights issue price at Rp 200 per share. From the implementation of the rights issue, OMNI hospital management will receive funds of Rp1.19 trillion.

Each holder of 10,000 shares is entitled to 10,169 Pre-emptive Rights, with each right giving the holder the right to purchase one new share. If the new shares offered in this rights issue are not entirely taken or exercised by the pre-emptive rights holder, the remaining shares will be allocated to other rights issue holders who place an order greater than their rights.

If the additional order from the rights holders still has new shares remaining, PT Elang Mahkota Teknologi Tbk  (EMTK), as the standby buyer, must purchase all the remaining new shares. Elang Mahkota Teknologi, as the main shareholder, will exercise the Preemptive Rights, which it owns as much as 4.31 billion shares.

Shareholders who do not exercise their rights in the rights issue will experience a 50.42% decrease in share ownership (dilution). The company will use the proceeds from the rights issue, among others, around 68% or Rp816.87 billion to pay off all principal and interest as well as loan costs to PT Bank Negara Indonesia Tbk (BBNI), about 23% or Rp271.76 billion for capital participation in KSU. as a subsidiary company in repaying loans from Bank BNI.

The rest will be used for working capital, but not limited to the payment of trade payables, financing hospital operations, and others. The company will use the subsidiary's working capital through temporary shareholder loans, which can be repaid at any time before maturity or capital participation in the subsidiary.