Bumi plans Rp 6.54t rights issue

IDX-listed coal giant PT Bumi Resources Tbk announced plan to launch rights next month to raise about Rp 6.54 trillion proceeds, which will be partly used to repay debts, reports said on Wednesday.

The company said in a filing with the Indonesia Stock Exchange that about Rp 1.73 trillion of the proceeds will be used to repay debt to China Investment Corp, and another Rp 1.73 trillion Castleford Investment Holding Ltd, while the remaining Rp 2.59 trillion to pay maturing bonds, other debts, and for working capital.

Bumi plans to hold extra ordinary shareholders meeting on June 5 to seek approval for the proposed issuance of 26.17 billion of new B series shares. (*)