Bumi proposed 15.8% Herald shares

PT Bumi Resources Tbk through its subsidiary firm, Calipso Investment Pte Ltd, proposed to acquire 15.8 percent shares of Herald Resources at a par value of A$0.7.
Based on data from Bloomberg, the floating shares of Herald currently stand at 201.897 million. If Calipso proposed the 15.8 percent shares of the mining firm at A$0.7, it should spend about A$22.33 million or IDR187.23 billion assuming A$1 equals to IDR8,384.87.
President Director of Bumi Resources Ari S. Hudaya said in statement the offered proposal has one month period and can be extendable. The company will use internal fund to finance the rising Herald shares up to 100 percent.
Bumi Resources appointed Credit Suisse as the financial advisor in the stock offering here.