JAKARTA. PT Sumber Energi Andalan Tbk (ITMA) plans to increase capital through a rights issue. The company aims to obtain Rp 255 billion for the acquisition of new mines.
In the disclosure of information, ITMA will issue as many as 340 million new shares, or about 50% of the total number of shares that have been issued. The price that will be used in the rights issue is set at Rp 750 per share.
After obtaining approval from its Extraordinary General Meeting of Shareholders (EGMS) in August, ITMA will begin listing its new shares on the Indonesia Stock Exchange (BEI) on 11 October 2019. The mine to be acquired is not certain yet, because the company is still negotiating with a number of prospective sellers. (KR/AR)