Will Go To The Stock Exchange, Amman Mineral Internasional Offers IDR 1,695 Per Share

Illustration (Photo: Doc. Antara)

JAKARTA - The copper and gold mining company, PT Amman Mineral Internasional Tbk (AMMN) will soon conduct an initial public offering (IPO) on the Indonesia Stock Exchange (IDX).

In its offer, AMMN set a price of IDR 1,695 per share.

Quoted from Prospectus, through this offer, the company targets to reap fresh funds of IDR 10.72 trillion from 6,328,208,800 shares released to the public or 8.80 percent of the company's issued and paid-up capital after the IPO with a nominal value of IDR 125.

In addition, AMMN also held a Share Ownership Option Program for Management or Management Stock Option Plan (MSOP) by issuing as many as 602,336,000 new shares or 0.83 percent of the issued and paid-up capital after the IPO.

Meanwhile, the proceeds from the IPO will be used for the company's interests, including Rp 1.78 trillion, which will be used by the company to deposit capital to PT Amman Mineral Industri (AMIN) through a new share acquisition which will be issued by AMIN which will then be used by AMIN to finance capital expenditure on a smelter project in AMIN located in Bataperis Hamlet, Maluku Village, Maluk District, West Sumbawa Regency, West Nusa Tenggara Province.

Then Rp3.04 trillion will be used to pay off money to PT Amman Mineral Nusa Tenggara (AMNT).

Then the remaining IPO funds will be used to deposit capital to AMNT through a new share acquisition to be issued by AMNT, which AMNT will then use to finance capital expenditures on the Concentrator Factory Expansion Project and the Gas and Steam Power Plant Project in AMNT.