| Shareholders of PT Bumi Resources Tbk approved the Indonesian coal miner's plan to raise 8.05 trillion rupiah ($680 million) through a rights issue to reduce its debt to sovereign wealth fund China Investment Corp (CIC).
"It has been approved. Now we implement the shareholders resolution," company director Dileep Srivastava told reporters on Monday. Bumi, controlled by the Bakrie Group, planned to sell about 32.2 billion shares at 250 rupiah each, according to a prospectus released last week. Proceeds from the sale would be used to pay off part of the miner's debt to CIC...............................................Full Article: Source
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