Pakuwon eyes $150m to aid expansion
Bareksa • 02 Jun 2014
Seorang pengunjung mengamati maket gedung pada acara pameran properti "Real Estat Indonesia (REI) Expo 2014" di Jakarta Convention Center (ANTARA FOTO/Muhammad Adimaja)
Sales of condominiums made up 39.8 percent of Pakuwon’s first-quarter revenue.
The Jakarta Post - Diversified real estate developer Pakuwon Jati is looking to raise Rp 1.75 trillion (US$150.5 million) from a rights offering next month, which will be used to finance the company’s expansion plans.
The publicly listed company plans to issue 4.81 billion new shares, representing 10 percent of its enlarged capital, pending approval from an extraordinary general shareholders’ meeting slated for June 12, according to an official statement made available on the Indonesian Stock Exchange (IDX) website.