BNBR - PT. Bakrie & Brothers Tbk

Rp 45

-1 (-2,00%)

JAKARTA. PT Bakrie & Brothers Tbk (BNBR), a holding company under Bakrie Group, is scheduling a capital increase without pre-emptive rights of 13.35 billion shares.

The number of shares to be issued by BNBR is equal to 7.70% of BNBR’s issued and paid-up capital.

In the official statement, the management of BNBR mentioned that this capital increase is related to the conversion of some of debts owed to creditors like Eurofa (Eurofa Capital Investment) and SMIL (Silvery Moon Investment Ltd). Total debts that will be swapped to equity clock up to IDR 855 billion.

“Creditors have agreed, based on settlement agreement, to settle the company’s obligations by accepting new shares at a conversion rate of IDR 64 per share,” clarified the management of BNBR.

Regarding this corporate action, the management of BNBR will first ask for approval from the next General Meeting of Shareholders on November 28, 2024. (KR/ZH)