Huadian plans to buy CNKO?s shares
Thursday, October 25 2012 - 06:02 AM WIB
China?s largest energy company, Huadian Power International Corporation Ltd will buy shares of Indonesia?s energy company PT Exploitasi Energi Indonesia Tbk (CNKO) for Rp470 billion, Investor Daily reported.
?Huadian would be our strategic partner. There is also a foreign company (which will become CNKO?s strategic partners through buying new shares,? CNKO?s President Director, Henry Sitanggang said.
He declined to name the foreign company.
CNKO plans to issue 5.4 billion new shares, representing 55.9% of its enlarged capital, through rights issue scheme.
Henry said the exercise price of rights issue is set for Rp500 per share, to raise total proceeds of Rp2.7 trillion. (*)