BRMS - PT. Bumi Resources Minerals Tbk

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JAKARTA. PT Bumi Resources Minerals Tbk (BRMS) prepares to raise its capital with pre-emptive rights, conducting a rights issue and targeting USD 106 million or IDR 1.54 trillion in return.

Director and Chief Investor Relations of BRMS, Herwin W Hidayat, states that the estimated number of shares would match the previous rights issue in March 2020 related to the mining project in Palu, Central Sulawesi. The funds gathered in this rights issue would be directed to the gold mining development in Gorontalo, including establishing a gold extraction factory with a 2000-tonne capacity.

“We have not finalised it yet. However, the [number] range would be not far different from the first rights issue,” Hidayat confirmed yesterday (15/7). The said corporate action would be initiated once approved during the Extraordinary General Shareholders Meeting on August 6, 2021.

According to Hidayat, the company has not yet specified its standby buyer in this transaction as the discussions with several potential investors are still under the way. (AM/ZH)