INCO – To hold rights issue

INCO – To hold rights issue Vale Indonesia (INCO) will hold a rights issue as part of the divestment carried out by MIND ID by issuing 603.44 mn new shares. The shares will have a par value of IDR25 per share and will be issued from INCO's portfolio shares. In this regard, INCO will hold an extraordinary general meeting of shareholders on April 19, 2024. With the implementation of the rights issue, shareholders who do not exercise their rights will be subject to dilution of the share ownership percentage up to a maximum of 5.73% if all rights issued are exercised by the entitled holders. Note that, MIND ID with VCL and SMM have agreed on terms and conditions for the acquisition of INCO shares by MIND ID on February 26, 2024. (Source : Kontan)