HKMU - PT. HK Metals Utama Tbk

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JAKARTA. PT HK Metals Utama Tbk (HKMU) would conduct a rights issue of 5.15 billion shares at most of IDR 100 each. The proceeds would then be allocated to the working capital, debt payment, and subsidiaries’ capital needs.

“We would raise some funds that could be utilised as the working capital to implement retail business strategy and pay some of our debts,” Jodi Pujiono, Director of HK Metals Utama, informed yesterday (7/10). However, he could yet to disclose the target of the proceeds of the upcoming rights issue.

Regardless, this rights issue arrangement had been agreed upon during the Extraordinary General Shareholders Meeting held on Thursday (7/10).

According to Pujiono, HKMU and strategic partners are having an intense discussion to talk themselves into joining the new capital city development project in East Kalimantan as HKMU’s products have been deemed to meet the required specification details. (AM/ZH)