Successful closing of the landmark Rp1.6 trillion rights issue of PT Bumi Resources Minerals Tbk
Continuing our series of successful deal closing, we would like to congratulate PT Bumi Resources Minerals Tbk. (BRMS) for the completion of its Rp1.6 trillion rights issue with the proceeds going for BRMS’s business expansion including the development of its prospective mining business. The deal marks BRMS’s major first corporate action in more than a decade since its IPO and we are proud to be a part of such a landmark move!
Led by Ahmad Zakaria and Paula Aprijanto, we represented BRMS in the whole process of rights issue including performing due diligence, preparing legal opinion for the Indonesian Financial Services Authority (Otoritas Jasa Keuangan), and drafting and negotiating the relevant transaction documents. Despite the current turbulent times, BRMS’s rights issue serves as a success story of the immense opportunities brought by Indonesian capital market for both public companies and their investors and we sincerely hope that it could encourage other public companies to expand their portfolios and pool investor’s beliefs about the capital market’s future, a powerful indicator of what could lie ahead.
Huge thanks to BRMS for trusting us to be a part of this project and once again, congratulations to all parties involved!