Jun 23, 2010

Darya-Varia considers rights issue

One of Indonesia's pharmaceutical manufacturer PT Darya-Varia Laboratoria Tbk (DVLA), considers to issue new shares (rights issue) in a bid to jack up public share holders.
According to Darya-Varia's Corporate Secretary Romeo L. Bato, the company's controlling share holder is considering the rights issue.
"We consider rights issue after we accomplish stock split from Rp500 to Rp 250 per share," he said after annual general share holder meeting today as reported by Bisnis.com.
Following the stock split, Darya-Varia's public shares will be around 1.12 billion shares.
Blue Sphere Singapore Pte.Ltd controls 92,66% and public holders own the remaining stakes.
The annual meeting has also agreed Darya-Varia to distribute a cash dividend of Rp45 per share or Rp26.02 billion in total, 36% of its net profit last year.
The company posted Rp72.27 billion of net profit last year, a 2.05% increase compared to the previous year of Rp70.82 billion.

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