Antam postpones rights issue plan
Tuesday, April 20 2004 - 03:10 AM WIB
State-owned gold and nickel producer PT Aneka Tambang Tbk (Antam) has postponed its plan to issue new shares (rights issue) because it has yet to fulfill several conditions to execute the plan, Bisnis Indonesia newspaper reported in its Tuesday edition.
Antam earlier planned to issue new shares on May 27, 2004.
Among of the conditions that have yet to be fulfilled is related to the Alumina Tayan project in West Kalimantan,
Antam?s director of finance Kurniadi Atmosasmito said on Monday in Jakarta.
Two Japanese companies Showa Denko and Marubeni Corp. have already agreed to finance the project and establish a joint venture with Antam. But until now, Antam and the Japanese investors have yet to reach an agreement on the amount of shares each will own in the project.
After fulfilling the conditions, Antam will call for an extraordinary shareholders meeting, Kurniadi said. (*)