Jakarta, CNBC Indonesia – Shares of listed coal company PT Bumi Resources Tbk (BUMI) are currently being monitored by market players. Not only the price has shot up sharply (almost 100% in the last 3 months), but also the name of the new investor that holds the share.
Referring to the information disclosure report released by the company on July 20, 2022, the investor name NBS Clients appears as a minority shareholder with ownership of more than 5%. The purchase of BUMI shares by NBS Clients was carried out on July 19, 2022, which made its ownership to 5.54%.
However, before the disclosure report was released, interestingly, NBS Clients already controlled 6.66 billion BUMI shares, equivalent to 4.94%. It’s just that because the ownership is still below 5%, there is no need for information disclosure reporting.
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NBS Clients continue to buy up BUMI shares. On July 20, 2022, NBS Clients reinvested 200 million shares of BUMI, which increased its ownership to 5.69%.
It doesn’t stop there, NBS Clients continue to buy BUMI shares every day from 22-28 July 2022 until its total share ownership reaches 9.41 billion or equivalent to 6.97%.
However, in the disclosure of information it is not reported at what price and what is the purpose of NBS Clients buying BUMI shares.
After all, NBS Clients are themselves escrow accounts. In simple terms, an escrow account is a joint account managed by a third party which also ensures that all parties involved fulfill their obligations and obtain rights.
NBS Clients itself is domiciled at Kasernenstrasse, 8021 Zurich, Switzerland. The action of buying BUMI shares by NBS Clients also sparked speculation among market participants and made the price soar, especially since mid-June.
Interestingly, this is not the first time the NBS escrow account has been recorded as having jumbo ownership in BUMI. Previously, the name of the Nomura Bank escrow account had appeared to be a BUMI jumbo stock holding account on April 21, 2022, in which Nomura Bank was entrusted with 6.67% of BUMI’s shares.
The day before the appearance of the Nomura Bank escrow, there was an investor who previously kept BUMI shares with jumbo ownership of 7.06% through Clearstream Banking sa Luxembourg who was indeed keen to transact in BUMI shares in the first quarter of this year.
Furthermore, it should be noted that on April 21, there was another BUMI jumbo shareholder, namely Bambang Sihono who held 5.02% of BUMI’s shares, but the next day on April 22, Bambang’s name was replaced by Barclays Capital Securities which held 6% of BUMI’s shares. currently no longer owns BUMI shares above 5%.
As the largest coal issuer in the country, the increase in the price of the black stone is a positive catalyst for its share price.
However, the significant increase in BUMI’s share price has also triggered the stock exchange authorities to write to the issuer, who is well-known for his affiliation with the Bakrie Group.
In an explanation letter published by the company yesterday afternoon (1/8/2022), BUMI explained that it did not know the activities and intentions of the shareholders and the company did not involve itself in these activities.
However, BUMI also confirmed that there was indeed a corporate action in the form of converting Mandatory Convertible Bonds (OWK) into shares in order to restructure debt.
Earlier in the middle of this month, BUMI announced a record payment of US$ 118.3 million or equivalent to Rp 1.77 trillion to Tranche A holders. In total, Tranche A has received a total payment of US$ 731.3 million in cash from BUMI.
BUMI’s Corporate Secretary also stated that all Tranche A payments are expected to be completed in October 2022 along with the start of Tranche B payments. Dileep added that Payment-in-KInd (PIK) coupons or non-cash payments from April 11 2018 to July 12 2022 for Tranche B and C have also been capitalized.
Launching Refinitiv, BUMI’s debt for the four bonds still remains of Rp 21.02 trillion. Three of the four bonds will mature on December 11 this year and are issued in US dollars or a value of Rp 12.56 trillion.
Meanwhile, the remaining Rp 8.46 trillion will mature on July 26, 2024 in rupiah and is a senior unsecured bond.
Until the end of the first quarter of this year, the company was still feeling liquidity pressure and recorded a capital deficiency of Rp 6.35 trillion.
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