JAKARTA (Yosefardi) – Nathaniel Rothschild, a British financial expert, allocates US$100 million fund to absorb new shares issued by Asia Resources Minerals Plc, parent company of PT Berau Coal Energy Tbk (BRAU).
Asia Resources will use its rights issue proceed to help paying BRAU’s US$450 million debts to its bond holders scheduled to mature in July 2015.
Nathaniel now holds 17.5% stake in Asia Resources, while Samin Tan, through PT Borneo Lumbung Energi & Metal Tbk (BORN) and Ravenwood Acquisition Company Limited, controls 47.6% shares. Asia Resources controls 84.7% stake in BRAU.