Bumi Resources (BUMI), Indonesia's biggest coal miner, said on Friday it aims to raise 3.24 trillion rupiah ($362 million) in a share placement in September.
The firm will sell 1.37 billion new shares in a placement closing on September 30 at a price of 2,366 rupiah per share. The amount targeted was lower that the company's previous expectation to raise $495 million by selling up to 10 percent stake.
Dileep Srivastava, a Bumi director, told Reuters that it was the first part of the company's plan to deleverage its debt by up to $800 million by the fourth quarter this year. Source: Reuters
The firm will sell 1.37 billion new shares in a placement closing on September 30 at a price of 2,366 rupiah per share. The amount targeted was lower that the company's previous expectation to raise $495 million by selling up to 10 percent stake.
Dileep Srivastava, a Bumi director, told Reuters that it was the first part of the company's plan to deleverage its debt by up to $800 million by the fourth quarter this year. Source: Reuters
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