JAKARTA. PT Trimegah Bangun Persada Tbk (NCKL), a company engaged in the nickel mining industry, will hold two corporate actions in order to gain extra capital and acquire a nickel smelting facility.

First off, NCKL will issue at most 6.31 billion shares through a capital raise without pre-emptive rights or private placement. They are equal to 10% of its total issued and paid-up capital. Each share is valued at IDR 100.

Furthermore, NCKL will also initiate a capital raise with pre-emptive rights or rights issue. For this corporate action, the company will issue 18.92 billion new shares.

NCKL’s shareholders’ portions will be potentially diluted up to 9.09% after the private placement. Meanwhile, the rights issue will drive existing investors’ portion dilution by up to 23.08%.

The management of NCKL said that the proceeds gained through these corporate actions will then be used to acquire a nickel smelting facility. With the acquisition, the company is confident of improving its business performance this year.

The management is scheduling an Extraordinary General Meeting of Shareholders regarding this private placement and rights issue. The meeting is projected to take place on March 15, 2024. (KR/ZH)