Jul 26, 2011

APLN to acquire 2 affiliated firms

Property developer PT Agung Podomoro Land Tbk (APLN) aims to acquire 35%-100% shareholdings in two affiliated companies, using Rp800 billion proceed from the issuance of rupiah denominated bonds scheduled in August 24 2011. affiliated
Agung Podomoro plans to raise Rp800 billion through the issuance of two series of bonds which will mature in 3 and 5 years. The acquisition is expected to be completed within 2 years.
Four lead underwriters, PT Deutsche Securities Indonesia, PT Indo Premier Securities, PT Mandiri Sekuritas, and PT Standard Chartered Securities Indonesia will arrange the issuance.
The proposed bonds have obtained A rating with outlook stable from PT Pemeringkat Efek Indonesia (Pefindo).

Disclosure: No position at the stock mentioned above.  

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