Wilton Makmur plans change in indirect control through parent share placement
Maxglory Capital would become the Indonesian gold miner’s new indirect controlling shareholder under a proposed placement by Wilton Resources Corporation.
Indonesian gold miner PT Wilton Makmur Indonesia Tbk (SQMI) has announced a proposed transaction at its controlling shareholder, Wilton Resources Corporation Limited (WRC), that would put Maxglory Capital Limited (MCL) in indirect control of the miner.
According to an Indonesia Stock Exchange disclosure dated 15 October 2026, MCL would subscribe for 1,071,767,735 new ordinary shares in WRC at S$0.011 each. The placement is expected to raise gross proceeds of US$9,283,028 and make MCL WRC’s controlling shareholder.
WRC signed the placement agreement with MCL on 9 October 2026. The companies also signed a convertible bond subscription agreement in October 2026.
WRC plans to use the proceeds to settle outstanding corporate obligations, fund development of the group’s Ciemas Gold Project and provide additional working capital for the group.
As of 30 September 2026, Wilton Resources Holding was SQMI’s controlling shareholder with a 53.5% stake. CGS Internasional Securities Singapore held 14.16%, while the public held 32.3%.
