A Mining Company Owned By The Bakrie Conglomerate Family Will Conduct Private Placement Of 5.1 Billion Series C Saham Shares

Illustration. (Photo: Unsplash)

JAKARTA - Mining company belonging to the Bakrie conglomerate family, PT Bumi Resources Tbk (BUMI) will carry out additional capital without pre-emptive rights (PMTHMETD) or private placement, in order to improve financial position and carry out the conversion of Mandatory Convertible Bonds (OWK).

BUMI will carry out a private placement with a total of 5.1 billion Series C shares, with a nominal value of Rp50 per share. The private placement will be held on August 19, 2022, with notification of the results of the private placement on August 23, 2022.

"All of the new shares that will be issued in the private placement will be taken up by the relevant OWK holders in the context of implementing the conversion rights of the OWK," said BUMI Management on the information disclosure page of the Indonesia Stock Exchange (IDX), quoted Friday, August 12.

BUMI's private placement will be carried out at an exercise price of Rp80 per share, which is the conversion price of the OWK, which applies to the exercise of the conversion right of the OWK. After the private placement, BUMI will issue new shares with a total of 5.1 billion series C shares.

The total issued and paid-up capital of the company will increase from 134.9 billion shares to 140 billion shares. Read also: Bumi Resources (BUMI) Appoints New Director from Bank CDB and CIC. The number of shares consists of 20.7 billion Series A shares, 53.5 billion Series B shares, and 65.7 billion Series C shares.

Previously, BUMI was recorded to have completed the listing of new shares on the Indonesia Stock Exchange on April 25, 2022. BUMI issued 10,223,552,106 new shares in PMTHMETD with a par value of Rp50 per share.

Meanwhile, the exercise price for this PMTHMETD is Rp80 per share. The party that took the PMTHMETD this time was Innovate Capital Pte. Ltd. with a total conversion rate of IDR 817.88 billion, with a total of 10,223,552,106 shares.

"The new Series C shares issued by the company in the PMTHMETD are to fulfill conversion requests from OWK holders based on conversion requests until March 16, 2022," explained BUMI's management.