Monday, September 19, 2011

Update on KIJA’s right issue

KIJA will issue 6,036,022,177 new shares that are offered at Rp 250 per share. For every 500 shares 219 rights are given to buy new shares, which translates into a maximum dilution of 30.46%. Meadowood Capital Ltd and Green Emerald Investment Ltd will act as standby buyers up to Rp 1.5 trillion. The Rights Issue requires approval during the Extraordinary General Meeting of Shareholder (EGMS) that will be held on September 20, 2011. Danareksa Sekuritas is arranging the Rights Issue and KIJA appointed Cahyadi Hadi & Partners as independent business and share valuation company to give a fairness opinion on the transaction, Hendra Gunawan & Partners (Colliers) as independent asset valuation company, and Makes & Partners Law Firm as legal consultant. (Company)

source: OSK- Indonesia Equity dated 19 September 2011

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