JAKARTA – PT Techno9 Indonesia Tbk (NINE) has confirmed its plan for a Rights Issue, aiming to raise Rp3.2 trillion. This will be conducted in two stages, as part of its strategy to acquire mining assets and strengthen its energy sector business.

Nuzwan Gufron, President Director of NINE, explained that the Rights Issue is a key step in Poh Group Pte Ltd's plan to become the new controlling shareholder of the company.

For the first stage, the company aims to raise Rp80 billion. "This will be executed immediately once the suspension on NINE shares is lifted," Nuzwan stated in an official statement on Thursday (20/2).

The funds raised from the first stage of the Rights Issue will be used for the internal restructuring of Poh Resources Pte Ltd, the company that NINE plans to acquire. This process is expected to take about six months before moving on to the next phase.

"We have carefully considered various factors to ensure the acquisition process follows the Reverse Take Over (RTO) timeline," Nuzwan added.

For the second stage, NINE is targeting to raise US$200 million, equivalent to Rp3.2 trillion. The funds will be used to acquire Poh Resources Pte Ltd, currently a Special Purpose Vehicle (SPV). Although the company does not yet have any assets, it will be injected with new mining assets owned by Poh Kay Ping, located in Mongolia and Cambodia. (EF/ZH)