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Sovereign Wealth Funds Briefing - Categorized | Financials, Market

1 Indonesia’s Bumi plans placement of up to $375 mln

Posted on 25 May 2010

From Guardian: Indonesia’s PT Bumi Resources, its biggest coal producer by output, said on Monday it plans to issue new shares equivalent to up to 10 percent of the total to a strategic partner in a deal worth up to $375 million. China’s sovereign wealth fund, China Investment Corp (CIC), will be the main buyer for the share placement.
Dileep Srivastava, Bumi’s director for investor relations, said the plan was to raise funds through a share placement later this year in order to pay down mounting debts of $3.48 billion……………………………………….Full Article: Source


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