JAKARTA. PT Bumi Resources Tbk (BUMI), a coal mining company, plans to issue 1,413,409 new series C shares through capital increase without pre-emptive rights, also known as private placement.

This new shares’ issuance is meant to fulfil the conversion demand from the holders of its Mandatory Convertible Bonds, which was conveyed through the trustee of bondholders on October 30, 2024.

Each new share of BUMI has a face value of IDR 50. The shares will be issued with the price set to IDR 157 each, bringing total convertible bonds valued at IDR 221.9 million.

After this bond conversion, BUMI’s issued and paid-up capital will rise to 371,32 billion, consisting of 20.77 billion series A shares, 53.5 billion series B shares, and 297.05 billion series C shares.

According to IDNFinancials data, BUMI’s stock price was seen weakening 2 points or 1.37% down to IDR 144 per share. Since the beginning of the year, the price has increased 49 points or 51.58%. (KR/ZH)