JAKARTA – PT MNC Energy Investments Tbk (IATA), owned by Hary Tanoesoedibjo, has officially obtained approval from the Financial Services Authority (OJK) to conduct a rights issue valued at IDR 1.27 trillion.

In its official statement, IATA’s management announced that the company received an effective statement from OJK on 20 February 2025. This approval allows IATA to proceed with its third Limited Public Offering (PUT III) through the mechanism of Rights Issue (HMETD).

As part of this corporate action, IATA will issue up to 20.19 billion Series B shares, equivalent to 44.44% of its total paid-up capital after the rights issue.

The rights ratio has been set at 5:4, meaning that every 5 existing shares will entitle holders to 4 HMETD. Each 1 HMETD gives its holder the right to purchase 1 new IATA share.

“With an exercise price of IDR 63 per share, IATA aims to raise up to IDR 1.27 trillion,” the management stated in its announcement on Monday (24/2).

All proceeds from the rights issue, after deducting issuance costs, will be used to strengthen IATA’s working capital, including for its coal trading activities. The company remains optimistic about the coal business’s bright prospects in 2025, driven by stable global demand and efficient operational strategies. (EF/KR/ZH)