PT Bumi Resources Tbk (Bumi) can finally realize the issuance of new shares without preemptive rights (ER) or non pre-emptive rights. The number of shares published reached 1.3694 billion shares worth 360 million U.S. dollars.
Bumi president director Ari Hudaya said, the company recently completed the calculation of non pre-emptive rights. According to him, the value of shares offered is higher than the 11.34 percent stake in Bumi's closing price on Thursday (30 / 9), which amounted to USD 2125 per share.
Therefore, the total number of shares which are listed BUMI on 5 October 2010 20.773.400.000 shares reached.
Ari explained that the issuance of new shares is part of the conversion of the company's debt to the creditors that mature this year, with a total value of 2.417 billion U.S. dollars. Unfortunately it has not been able to mention kredito-creditors who have agreed to absorb the new shares.
"We will reveal the parties involved on October 4, 2010 and listing of new shares and the announcement of the schedule to the Stock Exchange * Indo nesia according to the rules," said Ari.
As is known, there are four creditors that have the potential to convert the new shares BUMI. Namely, Country Forest Ltd., a subsidiary of China Investment Corporation (CIC) U.S. $ 1.9 billion, Raiffeisen Zentralbank Österreich AG 80.14 million U.S. dollars, Credit Suisse U.S. $ 291.37 million, JP Morgan Chase Bank 145.92 million dollars U.S..
Samuel Securities said the results of research, Bumi Resources to sell bonds worth 700 million U.S. dollars with 10.75 percent coupon. Action is expected to encourage investors to buy shares at a price range of Rp 3,250 per share. Research also revealed, debt restructuring will affect the cashflow BUMI. Indonesia Today
