Indonesia's largest petrochemical center PT Chandra Asri Petrochemical Tbk (TPIA), which is owned by Indonesian tycoon Prajogo Pangestu, confirms that the company plans to announce the rights issue this week in a bid to raise over Rp1 trillion.
The proceed will be used by Chandra Asri, which obtained an effective statement of merger with PT Tri Polyta Indonesia Tbk on January 1 2011, to finance a medium-term expansion and make its shares more liquid. Please read the remaining stories here.
Disclosure: No position at the stock mentioned above.
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