Apr 15, 2011

Mandiri Sekuritas & DOID rights issue

PT Delta Dunia Makmur Tbk (DOID), parent of Indonesia's second largest coal mining contractor PT Bukit Makmur Mandiri Utama (BUMA), today jumped 8.55% to Rp1,270 per share on a market rumor saying DOID drops a rights issue.
A source close to the deal the rights issue for Delta Dunia is inevitable in a bid to boost its equity, which is in line with its plan to expand business. 
"Delta Dunia has mandated PT Mandiri Sekuritas to arrange the rights issue, which is more likely to be held in the second half of this year, a bit delay from the initial plan in April-May," the source said. Delta Dunia is also considering to secure US$750 million new loan facility before the rights issue will be held.
Andre Soelistiyo was unreachable when Insider Stories tried to confirm about the appointment of Mandiri Sekuritas. Despite the proposed rights issue, how about the operational target this year? Please login or register to read the remaining story.    

Disclosure: No position at the stock mentioned above.  

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1 comment:

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