Development megapolitan Offer 850 Million Shares of January 11

PT megapolitan Development Tbk to offer 850 million shares in an initial public offering (initial public offering / IPO). The fund raised from corporate actions that will be used to expand development projects the company and its business.

As quoted from the summary prospectus published company in Jakarta on Friday (12/17/2010), as much as 60 percent of the proceeds from the IPO would be used for project development subsidiary, as the project Puri Cinere, Depok and Cimandala City, Sentul.

While the remaining funds will be used as much as 40% of the company for various projects such as housing projects, commercial, office, facilities, infrastructure and working capital. PT Henan Putihrai will act as underwriters of securities under this corporate action.

The Company estimates the effective date will be obtained from the Capital Market Supervisory Agency and Financial Institution Supervisory Agency (Bapepam-LK) on December 30, 2010 so that the bidding can be done in 3 to 5 January 2011.

Allotment period will fall on January 7, 2011, followed by distribution of shares electronically on January 11, 2010. Company will be listed its shares on the Indonesia Stock Exchange (IDX) on January 12, 2011.

Until recently, the company has projects in the region Cinere-Depok, Mega Kuningan, Jakarta, Karawaci, Tangerang, and the Sentul-Bogor. Megapolitan also developing other projects in Cinere, Depok (Puri Cinere Riverside, Graha Cinere stage IV, Griya Cinere II, and Bukit Griya Cinere), Karawaci, Tangerang (Urbana University Village Phase I), and Sentul, Bogor (Tatya Asri and projects Cimandala City phase I).

In the Company's business development agenda for the next is Cinere Castle apartment project, Urbana University Village Phase II and Mega Blocks Cimandala City Phase II.

Megapolitan Development has developed property area that includes residential and commercial area of 300 ha in Cinere, Depok, Mega Kuningan, Jakarta, The Bellagio Residence and The Bellagio Mansion and the Sentul-Bogor namely Mega Sentul and Tatya Asri.

Company has about 370 ha of land in the region Cinere, Depok, Karawaci, Tangerang and Sentul, Bogor who are ready developed in more than 10 years into the future. Product properties offered by the Company has a diverse range so it can meet the demand of diverse segments.