J Resources seeks to raise $300m via rights issue
Friday, April 7 2017 - 03:20 AM WIB
IDX-listed gold mining company PT J Resources Asia Pasifik Tbk obtained on Thursday approval from shareholders to raise up to US$300 million via rights issue, Bisnis Indonesia reported on Friday.
The paper quoted Finance Director William Sunarta as saying that the company hopes to conclude the rights issue in the second quarter of this year.
He said that proceeds from the rights issue will be used to help finance the development of its Gunung Pani gold mine in Gorontalo Province, and Doup gold mine in North Sulawesi Province.
The paper said that shareholders have also approved a proposal for the company?s subsidiary PT J Resources Nusantara (JRN) to guarantee a planned $300 million notes to be issued by another subsidiary J Resources International Ltd (JRI), which will support the planned rights issue. (*)