DLA Piper advised Perseroan (Persero) PT Aneka Tambang Tbk ("ANTAM") (IDX: ANTM; ASX: ATM), the Republic of Indonesia's leading metals and mining company, on its landmark Rp5.9 trillion (US$393 million) rights issue. The transaction, the largest equity issue by an Indonesian mining company since 2010, was oversubscribed and the new shares were allotted on 02 November 2015.

ANTAM is transforming it's business from mining to processed metals manufacturer and the capital raised by the rights issue will fund Phase 1 of ANTAM's East Halmahera ferronickel processing plant, which is expected to be completed in 2018. In addition to the rights issue the DLA Piper team also successfully obtained a novel exemption from the ASX in relation to the rights issue. ANTAM is dual listed on the IDX and ASX.

Joe Bauerschmidt, partner and Head of Southeast Asia Capital Markets at DLA Piper said: "Our team played a crucial role in this transaction, especially given that ANTAM's last international offering closed in 2003. ANTAM did a tremendous job in completing the rights offering within a very tight timeframe. ANTAM is building the leading Indonesian metals and mining business, and we are proud to assist them".

The team was led by Singapore partner Joe Bauerschmidt, supported by Oscar Franklin Tan, Senior Associate, and Jeffrey Sheehy, Solicitor, advising on US securities law. Melbourne partner Mark Burger, Dylan Burke, Senior Associate, and Anna Hedgcock, Associate, advised on Australia law and Stock Exchange listing issues.

PT Bahana Securities, PT CIMB Securities Indonesia, Credit Suisse (Singapore) Limited, PT Danareksa Sekuritas and PT Mandiri Sekuritas acted as selling agents.