PT Adhi Karya Tbk targets to have rights issue of IDR600 billion shares in quarter IV/2010 while waiting for the robust stock rise to the level of IDR800. The rights issue scheme is follow up plan after three years delay.
The company has proposed rights issue since 2005 and approved by the parlimentary with the schedule in 2008. The rights issue was suspended due to the 2008 financial crisis affecting the corporate stock price.
The rights issue is planned with 3:1 ratio of which each three shares holder has the right for buying new share. It is estimated to tap IDR600 billion proceeds for the infrastructure and toll road investment.
The rights issue is planned with 3:1 ratio of which each three shares holder has the right for buying new share. It is estimated to tap IDR600 billion proceeds for the infrastructure and toll road investment.
This year the company aimed to get IDR9 trillion contracts and IDR8.6 trillion revenues or rose 30.3 percent as from IDR6.6 trillion last year. The extraordinary general meeting of shareholder (EGMS) yesterday agreed to assign new independent commissioner, Amir Muin, replacing independent commissioner Mas'ud Machfud who passed away. EGMS also appointed new directors from internal, Bambang Pramusinto.
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