Indonesia Goverment eased requirements for listed companies to sell new shares without making an offer to all existing shareholders, the nation' s capital market regulator (Badan Pengawas Pasar Modal dan Lembaga Keuangan/Bapepam-LK), said.
Companies may sell new shares of up to 10 percent of their stakes without a rights offer compared with the previous five percent and within two years rather than three, according to a
copy of the rule posted on the regulator's Web site.
Companies may sell new shares of up to 10 percent of their stakes without a rights offer compared with the previous five percent and within two years rather than three, according to a
copy of the rule posted on the regulator's Web site.
The rule may increase the appeal of selling new shares to raise funds, helping companies expand as the economy improves.
The Jakarta Composite index has been Asia's second-best performer this year, rising 84 percent, as nine interest-rate cuts by the central bank helped cushioned the impact of the
global recession.
global recession.
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