JAKARTA. Wexler Capital Pte Ltd's stake in PT Bumi Resources Minerals Tbk (BRMS) rose to 20.82% after the company purchased all of the new shares issued by BRMS through its private placement.
Muhammad Sulthon, Director and Secretary of BRMS, said that the new shares increased the company's total shares to 71.01 billion shares.
Nevertheless, BRMS did not receive any funds from Wexler for those shares, since Wexler agreed to convert BRMS' debt (Rp 729.57 billion) into new shares.
Previously, Wexler owned 9.79% or 6.1 billion shares of BRMS. (KR/AR)