JAKARTA – PT Morula Indonesia (MI), a subsidiary of PT Bundamedik Tbk (BMHS) engaged in in-vitro fertilisation (IVF), welcomes its newest shareholder, Jinxin Fertility Group (Jinxin).
The signing of this agreement took place on July 16, 2024, as a follow-up to the Shares Subscription and Purchase Agreement dated April 1, 2024.
In said agreement, MI is said to issue 48,333 new shares, or equal to 25% of total issued and paid-up capital of MI, the entirety of which is claimed by Jinxin.
In addition, referring to the agreement, Jinxin is also said tot acquire 5% of PT Bunda Ipiti Investama’s (BIPI) portion in MI.
“As of the completion date (July 19, 2024), Jinxin Singapore owns a total of 30% of MI’s shares,” added Josephine Tobing, Corporate Secretary of BMHS, in the press release quoted today (26/8).
This shares purchase then lowers BMHS and BIPI’s portions in MI to 47.25% and 22.75% of the shares, respectively, from 63% and 37%. According to the information disclosure, the transaction value received by BMHS is IDR 351.69 billion, while BIPI collected IDR 70.34 billion.
As quoted from Amanda Sanjaya, Investor Relations of BMHS, during the Public Expose Live 2024 of BMHS today (26/8), said IDR 351.69 billion will be utilised by the company to pay some portion of its bank loans, as well as to expand its healthcare services.
“It will also lower debt-to-EBITDA rate of the company to 1x, which shows the healthy balance sheet of the company,” added Sanjaya.
It is worth mentioning that although BMHS and BIPI’s portions in MI decrease, BMHS will remain as the controlling shareholder of MI, as well as consolidating MI’s financials into its own financial statements. (ZH)