09/25/2020 | Press release | Distributed by Public on 09/25/2020 01:18
MedcoEnergi Successfully Closed Trading Period of 2020 Rights Issue
Jakarta, 25 September 2020, PT Medco Energi Internasional Tbk1 announces that it has successfully closed its 2020 Rights Issue. Initial subscriptions were received from 98% of shareholders, who oversubscribed by 43%. The IDR 1,785 billion (~US$122 million) proceeds will be used for General Corporate Purposes and working capital. Further details are available in the Prospectus and newspaper disclosures.
Hilmi Panigoro President Director of MedcoEnergi said, 'I would like to extend my warmest thanks to the shareholders, investors, regulators and other stakeholders for their trust and confidence in our business plan as we continue to build shareholder value. The Rights Issue pricing allowed shareholders to share in the Company's recent successes and has strengthened Medco's capital structure ahead of the continuing uncertain times ahead'.
 PT Medco Energi Internasional Tbk ('Medco', 'MedcoEnergi' or 'Company')