Merdeka Copper Owned By Conglomerates Edwin Soeryadjaya And Sandiaga Uno Targeting To Get Funds In The Capital Market, There Are Bonds To Tens Of Trillion Rights Issues

Illustration. (Photo: Doc. Antara)

JAKARTA - The mining company owned by conglomerates Edwin Soeryadjaya and Sandiaga Uno, PT Merdeka Copper Gold Tbk (MDKA) is in an expansion position. For this reason, the company is quite keen to seek funding from the capital market.

One of them is through the issuance of bonds. The company earned IDR 2 trillion in fresh funds from the issuance of sustainable bonds III phase II in 2022.

The bonds have also been listed on the Indonesia Stock Exchange (IDX), Monday 9 May.

In a statement on the IDX, Merdeka Copper divided the bonds into two series. Among them, series A Rp310 billion with an interest rate of 7.8 percent per year with a period of three years.

Meanwhile, series B is IDR 1.69 trillion with an interest rate of 9.25 percent and a period of five years.

Apart from bonds, Merdeka Copper is also planning to add new shares with pre-emptive rights (HMETD) or rights issue. Here, the company will issue 2.29 billion new shares.

This amount is equivalent to 10 percent of the total issued and fully paid capital. The shares have a nominal value of IDR 20 per share.

If we refer to MDKA's share price as of April 28, which is IDR 5.300, the company has the potential to reap funds of up to IDR 12.14 trillion. If it goes according to plan, then Merdeka Copper's expansion space will be more open.

This is also in accordance with the planned use of funds from the rights issue. "In order to develop the Company's business activities and have the opportunity to carry out potential expansion, the Company deems it necessary to strengthen its capital structure," Merdeka Copper management wrote in the rights issue offering document.

Meanwhile, to expedite this action, the company plans to hold an extraordinary general meeting of shareholders (EGMS) on June 10.