Jakarta, CNBC Indonesia – Coal issuer PT Harum Energy Tbk (HRUM) is serious about expanding into the nickel refining sector.
This is evidenced by the company’s move to acquire a smelter in the Weda Bay Industrial Estate, Central Halmahera Regency, from PT Westrong Metal Industry (WMI).
This acquisition was carried out by HRUM through its subsidiary PT Harum Nickel Industry (HNI). The acquisition occurred after HNI purchased 250 thousand new shares in PT WMI, which represented 20% of the total issued and paid-up capital of PT WMI.
The price for the new shares is US$ 75 million, or around Rp. 1.09 trillion (assuming an exchange rate of Rp. 14,480 per US dollar). This acquisition took place on April 27, 2022.
PT WMI is a company engaged in nickel refining, aka building a smelter.
“PT WMI’s smelter that uses technology rotary kiln electric furnace it is planned to start construction within this year along with the infrastructure in the Weda Bay Industrial Estate area… with an annual production capacity of between 44,000-56,000 tons of nickel in the form of ferronickel/nickel pig iron,” HRUM said in an information disclosure, quoted Monday (9/5/). 2022).
The purpose of this transaction is to further develop and expand the Company’s business activities into the nickel industry, which is the realization of the Company’s long-term business diversification strategy.
This announcement was made by Harum Energy ahead of the company’s Extraordinary GMS on 11 May. HRUM will do a stock split with a ratio of 1:5.
If this plan is approved, the nominal value of the company’s shares will be reduced from Rp 100/unit to Rp 20/unit.
“The stock split of the Company’s shares aims to increase trading liquidity of the Company’s shares on the Indonesia Stock Exchange and also to make the Company’s share price more affordable for retail investors,” said the company.
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