Atlas plans rights issue
Friday, June 16 2017 - 09:22 AM WIB
By Romel S. Gurky
IDX-listed coal mining firm PT Atlas Resources Tbk plans to issue new shares without preemptive rights in a bid to raise funds from selected investors help finance its business expansion.
The company said in a statement Thursday it would issue up to 300 million of new shares, or 10 percent of issued and paid-up capital, at a price of Rp 200 per share.
Atlas said that it plans to hold shareholders meeting on June 20 to seek approval for the proposed rights issue. The company operates coal mines in East Kalimantan and South Sumatra.
Editing by Reiner Simanjuntak