JAKARTA. PT Merdeka Copper Gold Tbk (MDKA), a metal and mineral mining company with the highest market capitalisation, will initiate its capital raise without pre-emptive rights, or also known as private placement.

Through this corporate action, MDKA will issue 362.13 million shares at most, which are equal to 11.87% of its total listed shares.

For the record, MDKA’s private placement plan has secured approval from shareholders during the Extraordinary General Meeting of Shareholders held last June 2022. The issuance of new shares in this private placement is scheduled on March 26, 2024, followed by the listing on March 27.

According to IDNFinancials data, MDKA’s stock price was seen weakening 30 points or 1.32% to IDR 2,250 per share until 11.15 AM WIB today (19/3). Meanwhile, since the beginning of this year, its price has gone 440 points or 16.36% down. (KR/ZH)