JAKARTA. PT Merdeka Battery Materials Tbk (MBMA), a nickel mining issuer that supplies battery raw materials for electric vehicles, will carry out additional capital without providing pre-emptive rights (PMTHMETD) or private placement.

The number of new shares to be issued by MBMA is 10.79 billion shares. This is equivalent to 10% of the company's issued and paid-up capital.

Later, the funds obtained by MBMA from the private placement will be used to meet working capital needs. Apart from that, the company will also allocate some funds for business development in the form of capital expenditure, purchase of shares, assets, etc.

Regarding this plan, MBMA will seek approval from its shareholders at a meeting to be held on November 13, 2024. Implementation of private placement no later than 2 years after the company receives permission from shareholders.

Until now, there are no potential investors who will participate in MBMA's private placement action. (KR/LM)