The investor through local securities house, PT Net Sekuritas, which is affiliated with the Salim Group, bought 6.31 million shares of PT Bumi Resources Minerals Tbk (IDX: BRMS) from PT Danatama Makmur Sekuritas - Photo by the Company

JAKARTA (TheInsiderStories) – The local securities house, PT Net Sekuritas, which is affiliated with the Salim Group, bought 6.31 million shares of PT Bumi Resources Minerals Tbk (IDX: BRMS) from PT Danatama Makmur Sekuritas. The buyer bought the shares at Rp62 a share or with total amount of Rp391.22 billion (US$27.75 million).

The president commissioner, Hindarto Budiono, currently owns 59.5 percent of the brokerage firm, while the president director, Wito, holds 40.5 percent of Net Sekuritas shares. The management of Bumi Minerals stated that the issuer has obtained additional standby buyers in the corporate action to increase the capital through the rights issue program, with the total funds Rp1.6 trillion.

The director, Herwin W. Hidayat, explained the latest terms of the rights issue to be carried out in January 2021. So far, Bumi Minerals has pocketed two standby buyers if the existing shareholders not exercise their rights. The standby buyer is Singapore-based, Hartman International Pte. Ltd., which will take up a maximum of 6.22 billion shares at the same exercise price.

“And the second standby buyer is willing to buy as many as 16.68 billion new shares issued,” he explained today (16/12/) without mention the company names.

In the statement, Bumi Minerals also updated the rights issue terms. The miner will issue a maximum of 22.9 billion Series B from the portfolio with an exercise price of Rp70 per share.

It said, every 250 new shares will get 267 warrants from previously every 250 new shares were attached to 270 warrants. The exercise period for the warrants has also been changed and will take effect from July 28 to Sept. 30, 2021 from earlier from July 28, 2021 to Jan. 26, 2024.

The proceeds from the rights issue will be used by Bumi Minerals for the construction of a gold ore processing plant with a capacity of 4,000 tons per day worth $48 million, drilling work in four gold prospects to increase the amount of reserves and ore resources in Palu, Central Sulawesi, by $23 million, drilling works in two prospects gold to increase reserves and ore resources in Gorontalo amounting to $5.25 million.

US$1; Rp14,100

Written by Editorial Staff, Email: theinsiderstories@gmail.com