BELI - Private placement key details

BELI - Private placement key details Global Digital Niaga (BELI) will issue 4.9 bn new shares at a nominal value of IDR250 and an exercise price of IDR460 per share, raising over IDR2.25 tn. According to BELI’s directors, all new shares will be taken by Lingkarmulia Indah, owned 49% by Michael Bambang Hartono and 51% by Robert Budi Hartono, making it directly held by the Hartono brothers. Key Dates: - Payment and Distribution: October 22, 2024 - Listing on IDX: October 23, 2024 - Announcement of Results: October 24, 2024 (Source: Company, IDX) Comment : BELI's private placement, resulting in a 3.82% dilution, brings in IDR2.25 tn, likely supporting growth initiatives. With the Hartono-backed Lingkarmulia Indah as the sole subscriber, this strengthens Blibli's shareholder base. However, the moderate dilution may impact short-term EPS but could boost long-term growth.