Jakarta - PT Bumi Resources Tbk (BUMI) has set the implementation price for the additional capital without providing pre-emptive rights (PMTHMETD) or private placement at Rp79.59 per series C share.

Based on the company's disclosure of information published on Thursday (6/23), BUMI plans to conduct a private placement of 13.206 billion C series shares, which is 10.25% of the company's issued and paid-up capital before the private placement.

This private placement plan is in the context of converting debt amounting to Rp1.011 trillion into shares. The debt comes from Innovate Capital Pte Ltd, hoping it will settle the debt soon.

The company will also use the series C shares to be issued to improve the company's financial position, strengthen its capital structure, and improve the company's debt to equity ratio.

To realize this private placement plan, BUMI will hold an EGMS on July 29, 2022.

Based on the SOE's inter