Jakarta - Tuscany Investment Group Ltd.., As a buyer 93.95% stake in a subsidiary of PT Mitra International Resources Tbk (MIRA), Sabre Systems, plans to record again (relisting) PT Apexindo Pratama Duta Tbk (APEX), which is also an affiliated company MIRA.
This was conveyed by Head of Service Sector Commission, Gonthor R. Aziz Capital Market Supervisory Agency and Financial Institution Supervisory Agency (Bapepam-LK), in his office, Jakarta, Friday (09/16/2011).
Relisting is one option of Tuscany Investment Group Ltd.. post a new owner of Sabre Systems. "Tuscany will undertake a restructuring of debt of U.S. $ 650 million MIRA, including SSi. They also give the option to conduct a limited public offering or listing back to the Exchange via Apexindo," he added.
This was conveyed by Head of Service Sector Commission, Gonthor R. Aziz Capital Market Supervisory Agency and Financial Institution Supervisory Agency (Bapepam-LK), in his office, Jakarta, Friday (09/16/2011).
Relisting is one option of Tuscany Investment Group Ltd.. post a new owner of Sabre Systems. "Tuscany will undertake a restructuring of debt of U.S. $ 650 million MIRA, including SSi. They also give the option to conduct a limited public offering or listing back to the Exchange via Apexindo," he added.
"From the results of our callings by Tuscany, they assess good prospects of the company (MIRA, which is also the holding company of Sabre), but unfortunately can not be optimized," the story Gonthor.
But the plan still has not been ascertained relisting APEX, to Tuscany pursing these options.
Apexindo was formerly a listed issuer on the Exchange. Due to the purchase of majority shares Apexindo by MIRA, the authorities set the exchange listing rules of a chain (chain listings). Shares of stock that is no deletion (delisting) APEX.
Why so? Because according to Managing Director of BEI, at that time, Erry Firmansyah, if two unaffiliated issuers and listed on the stock exchange, then the revenue contribution should not exceed 50%.
"Having acquired Apexindo MIRA, MIRA income contribution to APEX is very large 50% more which is about 88% so they are exposed to the listing rules of chain," said Erry at the time.
"So one of them MIRA or APEX it should be delisted and the plan would remove the stock MIRA APEX," he said.
For information, in early 2009 announced the acquisition of MIRA's 82.6% stake in Apexindo which is a subsidiary of PT Medco Energi International Tbk (MEDC) and Encore International Limited. MIRA take over the 48.9% stake in APEX is now held by Medco, and 31.7% owned by Encore.
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