Merdeka Copper Gold, A Company Owned By Conglomerates Edwin Soeryadjaya And Sandiaga Uno Will Raise IDR 3.41 Trillion From Rights Issue

Illustration. (Photo: Unsplash)

JAKARTA - The mineral mining company owned by conglomerates Edwin Soeryadjaya and Sandiaga Uno, PT Merdeka Copper Gold Tbk (MDKA) plans to hold an additional capital with pre-emptive rights (HMETD) or rights issue.

In MDKA's information disclosure on the Indonesia Stock Exchange (IDX) website, quoted on Thursday, December 23, the company stated that the rights issue or Limited Public Offering II (PUT II) will amount to a maximum of 1.206.000.000 shares with an issuance price of IDR 2.830. Thus, this rights issue corporate action can bring in fresh funds of IDR 3.41 trillion for MDKA.

"The implementation of the PUT II will depend on and be subject to and will be carried out if the approval of the company's EGMS and an effective statement from the Financial Services Authority (OJK) have been obtained," wrote the management of MDKA.

The Extraordinary General Meeting of Shareholders (EGMS) is scheduled to be held on January 27, 2022.

MDKA plans to use all the funds, minus the costs and costs of issuing shares, among others for general liquidity needs, capital expenditures, and working capital. Final information regarding the use of funds will be disclosed in the prospectus.