JAKARTA (Yosefardi) – PT Merdeka Copper Gold Tbk has set its IPO prices at range of Rp1,800-Rp2,100 per share, to raise total proceeds of between Rp1.5 trillion to Rp1.8 trillion.
PT Merdeka Copper Gold Tbk has on Tuesday (May 12) kicked off its initial public offering (IPO) for 874.36 million shares. Along with it will issue new shares in order of execution of a mandatory convertible bonds (MCB) worth US$70 million.
Adi Ardiansyah Sjoekri, president director of Merdeka Copper Gold said the offering is scheduled for June 4-8, 2015.
Merdeka Copper Gold will use IPO proceeds as capital placement at its subsidiary, PT Bumi Suksesindo (BSI), holder of mining business permit (IUP). BSI will also use part of capital placement by Merdeka Copper Gold to pay its loan to one shareholder, PT Mitra Daya Mustika (MDM).
Merdeka Copper Gold suffered loss of US$5.08 million in 2014, widened from loss US$1 million in 2013. It assets reached US$8.5 million while liability amounted US$2.7 million