Jul 3, 2010

Mobile-8 creditors hold 4 bio shares

About 8 creditors of Wounded CDMA-based operator PT Mobile-8 Telecom Tbk (FREN) has converted their debts into 4 billion of new shares without preemptive rights issued by the telephone operator.
In a public announcement to Indonesia Stock Exchange (IDX) yesterday, these new share holders have agreed to lock up their Mobile-8 shares for upcoming 12 months. 
The debt conversion was exercised at Rp50.40 per share. In return, Mobile-8's total listed shares at IDX has reached 37.04 billion shares.
The new share holders of Mobile-8 are Freekoms Indonesia (95.65 million shares), PT Gihon Telekomunikasi Indonesia (84.73 million shares), PT Kopnatel Jaya (87.24 million shares), PT Komet Konsorsium (266 million shares), Rudy Anuwar (20.33 million shares), Indonesian Tower (462.91 million shares), Great Vanguard International Limited (1.19 billion shares, and Niven Holdings Limited (1.79 billion shares).

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