JAKARTA. The stock price of PT Atlas Resources Tbk (ARII) slid down by 2.35% to IDR 166 per share during the closing of stock trading today (18/5). This decline was due to the plan of a private placement of IDR 144.1 billion.
According to idnfinancials.com, ARII’s stock price was at IDR 177 per share during the trading opening hours. The volume of the shares reached 22,600 units, undergoing transaction 14 times.
Andre Abdi, the President Director of ARII, explained that the total new stock to be issued by the company amounts to 131 million shares, with the nominal price of IDR 200 each. The execution price was set for IDR 1,100 per unit.
This private placement initiative is ARII’s resolution to pay some of its debt to Noble Group. The amount of debt to be paid is USD 30.45 million, or equivalent to IDR 434.79 billion.
This corporate action would take place on May 25, 2021. Then, the management would announce the result of the said private placement on May 28, 2021. (KR/ZH)