SGX welcomes BlackGold Natural Resources Limited to Catalist

Formerly known as NH Ceramics.

It’s another opportunity for investors to benefit from Indonesia’s rapidly-growing energy and power sectors through the security of this established stock exchange.

A media release by SGX announced the listing of BlackGold Natural Resources Limited, formerly known as NH Ceramics Ltd, to Catalist under the stock code “41H”.

The listing follows the acquisition by NH Ceramics Ltd of the entire issued and paid-up ordinary shares in the share capital of BlackGold Asia Resources Private Limited and BlackGold Energy Limited for a consideration of S$187.5 million, satisfied fully by the issue and allotment of shares in NH Ceramics Ltd. As part of the RTO exercise, the company placed out 86 million shares at S$0.295 a share, raising a total of S$25.37 million. Upon completion of the RTO, the enlarged entity would have an estimated market capitalisation of about S$233 million.

BlackGold Natural Resources and its subsidiaries are an Indonesian-led group of companies which are principally engaged in coal exploration and mining in Riau province, Indonesia.

Philip Cecil Rickard, CEO of BlackGold Natural Resources, said, “BlackGold is proud to be a listed company on SGX, offering investors the opportunity to benefit from Indonesia’s rapidly-growing energy and power sectors through the security of this established stock exchange. As Indonesia is a resource-rich nation with a growing domestic demand for energy, we are confident that BlackGold’s assets and corporate strategy to provide coal for power will create future value for our new shareholding base in Singapore.”

The listing of BlackGold Natural Resources brings the total market capitalisation of SGX-listed coal companies to S$626 million, and the total number of companies in the mineral, oil and gas sector to 26 with a combined market capitalisation of S$3.9 billion.

Shares of BlackGold Natural Resources opened at 28.5 cents, down 5%.