Pakuwon Jati to Sell Shares for Expansion Plan Financing
Bareksa • 16 Jun 2014
Suasana jajaran perkantoran dan gedung bertingkat (ANTARA Foto/M Agung Rajasa/ed/mes)
Shareholders have given their approval to the share sale.
Bareksa.com - Quote from The Jakarta Globe, Pakuwon Jati plans to use the proceeds from its planned share sale to finance its expansion plans in the next two years with its capital spending at Rp 3.5 trillion ($296 million), according to a high official at the company.
The company plans to raise Rp 1.7 trillion from selling 4.8 billion shares, or equivalent to 10 percent of its total equity, at a price set at Rp 363 apiece at a non-preemptive rights issue in two years.