JAKARTA. PT Trada Alam Minera Tbk (TRAM) plans to issue 100 billion new shares through a rights issue.
Soebianto Hidayat, President Director of TRAM, said that the company will request approval for this plan from its shareholders at TRAM's Extraordinary General Meeting of Shareholders (EGM), which will be held on Friday, 5 July The nominal value of the shares proposed by the company is Rp 100 per share.
Hidayat added that the planned rights issue would be followed by the issuance of warrants. "Accompanied by the issuance of Series II Warrants, as much as 35% of the company's issued and paid-up capital," Hidayat said on Wednesday (22/5) in writing.
In its annual financial report, TRAM's total liabilities were recorded at Rp 2.93 trillion until the end of 2018. Meanwhile, its total equity reached Rp 5.31 trillion. It means that the company's debt ratio or Debt to Equity Ratio (DER) TRAM is at the level of 0.55 times. (KR/AR)