AKR plans right issue to strengthen fuel distribution business
Tuesday, December 22 2009 - 12:55 AM WIB
IDX-listed fuel distributor and logistics company PT AKR Corporindo Tbk plans to hold right issue to raise Rp539 billion (US$=Rp9,500) to strengthen its fuel distribution business.
The company said in a brief prospectus that the company will issue 627.6 million new shares with the price of Rp860 per share.
The company said Rp307 billion of funds raised from the right issue will be used to expand tanks terminals and jetties in Kalimantan, Sumatra and East Java. (alex)