Bumi Resources, A Mining Company Owned By The Bakrie Conglomerate Family Plans To Do A Private Placement, Value Of IDR 240.1 Billion

Illustration. (Photo: Pixabay)

JAKARTA - The company owned by the Bakrie conglomerate family, PT Bumi Resources Tbk (BUMI) will increase its capital without pre-emptive rights (non-HMETD) or private placement, as well as carry out the mandatory conversion of mandatory convertible bonds (OWK).

The Board of Directors of Bumi Resources, in a written statement quoted on Thursday, May 19, said that the company will issue 3 billion new shares without pre-emptive rights as much as 3 billion series C shares. This PMTHMETD will be carried out at an exercise price of IDR 80 per share.

The implementation of the private placement is the conversion price of the OWK. Thus, the transaction value reached IDR 240.1 billion. All new shares to be issued in the PMTHMETD will be taken by OWK holders in the context of exercising the conversion rights of OWK.

The implementation of the private placement is scheduled for May 25, 2022. Notification of the results of the implementation of the private placement will be on May 30, 2022.

After the private placement, the total issued and paid-up capital of BUMI will increase from 125.85 billion shares to 128.85 billion shares.