Atlas Resources to issue 300 million shares via private placement

PT Atlas Resources Tbk (ARII) would issue 300 million units of shares worth IDR 200 each via private placement. This corporate action awaits approval during the Extraordinary General Shareholders Meeting on July 29, 2021.

As quoted from the information disclosure on Tuesday (22/6), the funds gathered from this action would be utilised in improving the ratio of the companys equity to its debt. With a more solid financial status, the management could then expand its business amidst the increasing coal price.

Before the upcoming private placement, ARIIs authorised capital reached IDR 836 billion, while its issued and paid-up capital amounts to IDR 626.20 billion. After the action takes place, its issued and paid-up capital would rise to IDR 686.20 billion.