CITA - PT. Cita Mineral Investindo Tbk

Rp 1.995

+60 (+3,10%)

JAKARTA. Glencore International Investments Ltd will increase its stake in PT Cita Mineral Investindo Tbk (CITA) through a rights issue. Glencore currently has 18% of CITA shares, purchased last year.

CITA will issue a maximum of 648.22 million new shares at a nominal value of Rp 100 per share.

In the rights issue, every holder of at least 26 shares whose names are recorded on 12 February 2020 has five rights to order shares. Shareholders who do not exercise their rights will have their ownership diluted by 16.1%.

"PT Harita Jayaraya as the main shareholder of CITA has stated that it will not use its rights and transfer all of its rights to Glencore International Investments Ltd," said Cita Mineral in a brief prospectus, some time ago.

Glencore will exercise its rights for 116.68 million shares and all of the rights of Harita Jayaraya for 472.94 million new shares. After the rights issue, Glencore's stake in CITA will increase from 18% to 29.77%. (AM/AR)