PT Bumi Resources Tbk (BUMI) would launch a private placement by issuing 103,066,596,392 Series B shares. This action would be initiated after gaining approval in the Extraordinary General Shareholders Meeting next month (30/6).
In the information disclosure quoted on Tuesday (25/5), the corporate action is said to be a part of BUMIs attempt to fix its working capital that undergoes deficit. In December 2020, BUMIs working capital was at minus USD 901.28 million, while its total obligations were at USD 3.29 million, equal to 80% of its total assets of USD 3.42 million.
Furthermore, in 2020, BUMIs income was at USD 790.43 million, dropping from USD 1.11 billion in December 2019. The earnings were at USD 28.47 million, declining from USD 32.35 million. The current years loss was spotted at USD 337.35 million from 2019s current year profit of USD 9.47 million.
The total authorised capital currently amounts to IDR 38.75 trillion, comprising Series A of IDR 10.38 trillion and Series B of IDR 28.36 trillion. The issued and paid-up capital equals IDR 15.73 trillion, consisting of Series A of IDR 10.38 trillion and Series B of 5.35 trillion.
The shares ownership structure is made of HSBC Fund SVS A/C Chengdong Investment Corp Self 19,99%, Bambang Sihono 5,45%, PT Damar Reka Energi 3,10%, Credit Suisse 2,19%, Raiffeisen Bank International AG Singapore Branch 1,70%, and the public (below 5% portion) 67,57%.
After this corporate action, the issued and paid-up capital would grow to IDR 26.04 trillion, comprising Series A of IDR 10.48 trillion and Series B of IDR 15.65 trillion. The ownership structure would also change to HSBC Fund SVS A/C Chengdong Investment Corp Self 8,37%, Bambang Sihono 2,28%, PT Damar Reka Energi 1,30%, Credit Suisse 0,92%, Raiffeisen Bank International AG Singapore Branch 0,71%, Mandatory Convertible Bond owner 58,12%, and the public (below 5% portion) 28,30%.