Chaos Of Former PSP Hinders HK Metals Investor Search

Directors and Commissioners of HK Metals Utama. (Photo: Doc. HK Metals)

JAKARTA - PT HK Metals Utama Tbk's ongoing search for new investors is experiencing obstacles due to the chaos that occurred with the company's former Controlling Shareholder (PSP).

A company source stated that the issuer with the code HKMU is actually in the process of negotiating with a number of potential strategic investors from within and outside the country. However, the chaos that occurred caused a number of potential investors to withdraw.

"Actually, we have reached the stage of serious negotiations with several potential investors. However, due to the chaos that has occurred, some of them have postponed negotiations and some have even withdrawn. Including potential investors from abroad," said the source, quoted on Thursday, February 17.

The former PSP of HKMU is PT Hyamn Sukses Abadi. HKMU's last communication with Hyamn was on December 13, 2021, when they released 150,000,000 shares so that the share ownership after the transaction became 98,367,025 or equivalent to 3.05 percent and information was disclosed on December 14, 2021.

It is known that the management of the issuer manufacturing aluminum extrusion products has previously conveyed its plan to seek new strategic investors through corporate actions after the company no longer has a controlling shareholder (PSP).

The company will increase its capital by granting preemptive rights (HMETD) or rights issue in order to strengthen the capital structure to support the company's strategic programs.