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After The Merger Market Capitalization Ciputra Will Be Grow Up Summarecon’s

Jakarta (Benchmark News) – Analysts predict the merger plan between the three companies will be Ciputra Group property strengthened market capitalization of PT Ciputra Development Tbk., the entity which will be accepting the merger of PT Ciputra Surya Tbk. and PT Ciputra Property Tbk.

Based on Independent research Securities quoted, Tuesday (25/10/2016), market capitalization or market capitalization Ciputra Development will rose of Rp24 trillion to Rp29 trillion. According to the Independent Securities, mergers are believed to be growth net asset value (NAV) of 12%.

“After that, CTRA corporate actions will become a property company with capitalization in Indonesia’s third largest market, under the BSDE (Rp42,3 trillion) and the PWON (Rp35,6 trillion). Previously, CTRA has fourth position under the SMRA, “Mandiri securities.

BSDE is code shares to PT Bumi Serpong Damai Tbk. as for PWON the stock code is PT Pakuwon Jati Tbk., PT Summarecon Agung As Tbk. has the stock code SMRA.

As it known, Ciputra has announced the merger plan CTRS and CTRP into CTRA. management will hold a general meeting of shareholders (EGM) outstanding to request approval of the related shareholders merger or merger on 2 December 2016. If there were no merger deed, transverse will be signing on December 23, 2016.

FYI, CTRA currently has stocks of CTRS as much 62,66%. As much as 56.30% stake CTRP also owned CTRA. To date, the financial report of CTRS and CTRP has also been consolidated into the financial statements, CTRA. Therefore, Fundamentals of Finance post merger of entities is estimated will not change significantly.

In the plan of merger, public investors that have shares of CTRS and CTRP could swap their shares with shares of stock or other entity results CTRA merger. Exchange ratio for stock investors CTRS of 2.31 times. whereas the conversion rate of the stock of CTRP 0.54 times…(Red)

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