Pakuwon Jati Plans as Much as 1.36 Trillion Rupiah Rights Offer

PT Pakuwon Jati plans to raise as much as 1.36 trillion rupiah selling new shares in a rights offer in December to buy a stake of PT Elite Prima Hutama and will use the rest of the proceeds for working capital, the company said in a statement published in Bisnis Indonesia.

The Indonesian property developer will sell the shares at about 650 rupiah to 680 rupiah each, it said.

To contact the reporter on this story: Novrida Manurung at nmanurung@bloomberg.net

To contact the editor responsible for this story: Sean Collins at scollins14@bloomberg.net

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