PT Gunawan Dianjaya Steel, anIndonesian steel producer, said it plans to raise as much as IDR 160 billion selling shares in an initial public offering in December.
The company will sell as much as 1 billion new shares, or 12.2 percent of its stake, for between IDR130 and IDR160 a piece. Proceeds from the sale will be used to repay debt and for working capital, it said.
The company will sell as much as 1 billion new shares, or 12.2 percent of its stake, for between IDR130 and IDR160 a piece. Proceeds from the sale will be used to repay debt and for working capital, it said.
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