Reuters Indonesia's Bumi aims to raise $362 mln in share sale

13:42 24Sep10 RTRS-Indonesia's Bumi aims to raise $362 mln in share sale

JAKARTA, Sept 24 (Reuters) - Bumi Resources , Indonesia's biggest coal miner, said on Friday it aims to raise 3.24 trillion rupiah ($362 million) in a share placement in September.
The firm will sell 1.37 billion new shares in a placement closing on September 30 at a price of 2,366 rupiah per share. The amount targeted was lower that the company's previous expectation to raise $495 million by selling up to 10 percent stake.
Dileep Srivastava, a Bumi director, told Reuters that it was the first part of the company's plan to deleverage its debt by up to $800 million by the fourth quarter this year. (Reporting by Janeman Latul; Editing by Neil Chatterjee) (( janeman.latul@ thomsonreuters.com, Reuters messaging: