GEMS seeks to meet free float requirement
Thursday, February 9 2017 - 04:02 AM WIB
IDX-listed coal mining firm PT Golden Energy Mines Tbk (GEMS) said it would meet the Indonesia Stock Exchange free float requirement by June of this year.
Kontan quoted GEMS Corporate Secretary Sudin Sudirman as saying Thursday that the company is evaluating two alternatives: rights issue or share divestment.
He said that the company will use the 2016 financial report as the basis for valuation of the shares.
Sudirman said that the company is required to at least float another 4.5 percent shares to the public to meet the minimum free float requirement. The public currently holds 3.5 percent shares of GEMS. (*)