Indonesia's United Tractors plans $390 mln rights issue JAKARTA (Thomson Financial) - Indonesia's biggest heavy equipment distributor, PT United Tractors Tbk, said over the weekend it is planning a rights issue in the third quarter to raise about $390 million to repay debt and for expenses.
Under the plan, shareholders of every six existing shares are entitled to buy one new share at 7,500 rupiah ($0.68) each. The rights issue is subject to shareholders' approval at a meeting on Aug. 19. United Tractors is majority owned by conglomerate PT Astra International Tbk, which will act as the standby buyer for the rights shares not taken up by other shareholders. It said it will use the proceeds to repay existing debt, to finance working capital, and capital expenditures. It said the capital spending may include the future acquisitions of mining assets in Kalimantan, Sulawesi, and Sumatra. Such proposed spending could also be in the form of loans injected into its mining contracting unit PT Pamapersada Nusantara. UBS Investment Bank is the sole financial adviser to the rights issue. ------------------------------------ Kunjungi situs http://www.info-saham.com untuk informasi seputar saham. DILARANG KERAS MEMOSTING OPINI PRIBADI TENTANG POLITIK DI MILIS INI. Silahkan lakukan itu di milis [EMAIL PROTECTED] [EMAIL PROTECTED] untuk berhenti dari milis saham [EMAIL PROTECTED] untuk bergabung ke milis saham Yahoo! Groups Links <*> To visit your group on the web, go to: http://groups.yahoo.com/group/saham/ <*> Your email settings: Individual Email | Traditional <*> To change settings online go to: http://groups.yahoo.com/group/saham/join (Yahoo! ID required) <*> To change settings via email: mailto:[EMAIL PROTECTED] mailto:[EMAIL PROTECTED] <*> To unsubscribe from this group, send an email to: [EMAIL PROTECTED] <*> Your use of Yahoo! Groups is subject to: http://docs.yahoo.com/info/terms/
