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Wilton Resources will start conducting SQMI's stock offer tender

13 February 2019 05:19 AM  Company: PT. Renuka Coalindo Tbk[SQMI]
Rp. 190  +6 (3.26%)

JAKARTA - Wilton Resources Holding Pte has acquired PT Renuka Coalindo Tbk (SQMI) through the rights issue of SQMI shares. Now, Wilton is preparing to conduct a tender offer for the remaining shares of SQMI.

The Singapore-based company plans to conduct a SQMI share offer tender on March 14-April 12 2019. The price of the SQMI stock tender offer has not yet been stated. Wilton Resources Holding Pte. Ltd initially as a standby buyer in the SQMI rights issue

Post rights issue, Wilton Resources owns 96.95% of SQMI's shares. The remaining 1.5% is owned by the public and 1.55% belongs to Renuka Energy Resources Holdings.

Wilton bought 15.06 billion new shares of SQMI with an implementation price of Rp 250 per share or valued at Rp 3.77 trillion on February 8, 2019.

SQMI Independent Director Irwan Darmawan said, after the rights issue business, Renuka remained focused on the mining business. "With the focus of the commodity, especially its gold and minerals, where the commodity is a safe haven commodity," he told Kontan.co.id, Tuesday (12/2). (AM/LM)

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PT. Renuka Coalindo Tbk [SQMI]   Rp. 190   +6 (3.26%)