CUAN and PTRO Invest USD 23.75 Million in Tolu Minerals for 4.99% Stake
PT Petrindo Jaya Kreasi Tbk (CUAN) and PT Petrosea Tbk (PTRO) plan to acquire USD 23.75 million in convertible notes from Tolu Minerals, allowing them to obtain a 4.99% equity stake. This investment aligns with CUAN and PTRO's strategy for overseas expansion. Tolu Minerals, founded in 2020 and headquartered in Australia, operates primarily in Papua New Guinea.
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PT Petrindo Jaya Kreasi Tbk (CUAN) and its subsidiary PT Petrosea Tbk (PTRO) have made a binding offer to acquire USD 23.75 million in convertible debt instruments from Tolu Minerals, enabling a future 4.99% equity stake. This investment is part of their strategy for international business expansion.
Tolu Minerals, founded in 2020, is based in South Brisbane, Australia, and focuses on operations in Papua New Guinea. Concurrently, PTRO secured an IDR 989 billion contract for an Onshore LNG project in the Abadi Field, set to be completed in 36 months, contributing to Indonesia's gas development efforts.
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