JAKARTA – Chengdong Investment Corporation raises its portion to 10.68% in PT Bumi Resources Tbk (BUMI) after converting its mandatory convertible bonds (MCB). Prior to this, Chengdong used to only has a claim over 14,845,151,178 units of shares, equal to 4.32% of the entire issued shares of BUMI.
Xiangjun Guo, Executive Director and President of Chengdong, confirmed that the company has received 24,808,785,152 units of shares from converting its MCB. “The conversion price is set to IDR 80 per share,” he revealed in the information disclosure quoted Friday (16/12).
Once totalled, the value of the conversion of MCB clocks up to IDR 1.98 trillion. The transaction was conducted last week (2/12).
According to Guo, the conversion of MCB was carried out based on the Order of the Central Jakarta Commercial Court dated November 28, 2016, under case No.36/Pdt.Sus-PKPU/2016/PN Jkt Pst.
Chengdong is known as a subsidiary of China Investment Corporation (CIC). (LK/ZH)