JAKARTA - PT Golden Eagle Energy Tbk (SMMT) is issuing 315 million shares in a private placement in order to seek additional working capital. The number of shares issued in this corporate action is set to a maximum of 10% of its issued and paid-up capital.

In the short prospectus quoted Friday (18/10), its authorised capital was at IDR 450 billion as of September 30, 2024, with issued and paid-up capital of IDR 393.75 billion and stock in portfolio of IDR 56.25 billion.

The shareholders consist of PT Geo Energy Investama (GEI) of 73.11%, PT Golden Prima Energi (GPE) of 23%, and the public 3.89%.

In the future, the issued and paid-up capital will rise to IDR 433.12 billion, with stock in portfolio down to IDR 16.85 billion.

The shareholder structure will change, as well, comprising GEI of 66.47%, GPE of 20.91%, the public of 3.52%, and the new shareholder of 9.09%.

In addition, this corporate action will also boost SMMT’s asset and equity by approximately IDR 39.37 billion. As of June 2024, its assets clocked up to IDR 1.14 trillion, with liabilities of IDR 304.79 billion, and total equity of IDR 839.18 billion.

Then, after this private placement, total assets are projected to rise to IDR 1.18 billion, liabilities to IDR 304.79 billion, and total equity to IDR 878.55 billion. (LK/ZH)