Jakarta - Mining holding MIND ID will soon add a 14% stake in PT Vale Indonesia Tbk (INCO). Quoted from the Indonesian Stock Exchange (BEI) information disclosure, Vale will increase capital through the issuance of shares with pre-emptive rights (HMETD) or a rights issue.
"INCO's HMETD ratio is 8,233:500 for shares (every holder of 8,233 old INCO shares has 500 HMETD to buy 500 new shares at an exercise price of IDR 3,050 per share)," read the IDX announcement as quoted, Monday (17/6/2024).
The theoretical price of shares for the regular and negotiated markets on June 19 2024 is IDR 3,990. The theoretical price itself is the price applied by the stock exchange as a bargaining guide for shares at the start of the first trading on the regular market after the issuance of new shares.
It was explained that INCO's share price at the end of the regular market on June 14 2024 was recorded at IDR 4,050. Thus, the theoretical price for bargaining guidelines and calculating the IDX Share Price Index and Individual Share Price Index is determined based on the formula (Rp. 4,050x8,233) + (Rp. 3,050x500)/8,233+500=Rp. 3,992,746.
"The theoretical price of INCO shares listed on JATS for the Regular Market and Negotiated Market on June 19 2024 is adjusted by the price fraction to IDR 3,990," the announcement further stated.
Previously, Vale Indonesia President Director Febriany Eddy stated that the divestment process of Vale Indonesia shares would be completed this month. In this way, the divestment obligation has been completed.
For information, Vale Indonesia shareholders will release 14% shares to the MIND ID mining holding. In this way, MIND ID ownership in Vale Indonesia will become 34%, from the previous 20%.
"The target is to be completed this month, this month everything should be completed. Now with the completion of this divestment process, the implementation of our divestment obligations will be complete," she said at a press conference, Jakarta, Monday (10/6).
He said the divestment process itself was running smoothly. she said the divestment process began on February 26 with the signing of an agreement. In the divestment agreement, the transaction scheme was also agreed.
"I think the divestment process will be smooth, so after signing on February 26, we have agreed that the divestment execution will be through a rights issue and also a secondary issue which will be carried out at the same time," she said.
