thejakartaglobe/business/garuda-plans-130m-rights-issue/ Flagship carrier Garuda Indonesia is aiming to raise Rp 1.48 trillion ($130 million) from a rights issue next month, the company said in a filing to the local bourse on Friday. Garuda plans to sell 3.22 billion new shares, or the equivalent of 12.48 percent of its enlarged capital. The shares are offered at Rp 460 per share. Shareholders who currently hold the 701,409 existing shares — whose names will be on the airline’s shareholders’ list as of April 4 — are entitled to buy the new shares, the filing said. The rights issue will take place on April 7 and the new shares will be listed on the Indonesia Stock Exchange (IDX) on April 8. Garuda appointed brokerages Bahana Securities, Danareksa Sekuritas and Mandiri Sekuritas as joint lead underwriters. Garuda is now 69.1 percent controlled by the government. After the rights issue the government’s ownership in the company will be diluted as the airline said the government will not exercise its rights, meaning underwriters will sell the new shares to both domestic and foreign investors.
Posted on: Mon, 24 Mar 2014 06:38:38 +0000
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