Jul 26, 2011

Citra Marga to raise Rp240 billion

Toll road operator PT Citra Marga Nusaphala Persada Tbk (CMNP) aims to raise Rp240 billion from the new shares sale without preemptive rights. The proceed will be used by the operator to develop its business.
Citra Marga will issue 200 million new shares at a minimum exercise price at Rp1,200, Rp140 lower or 11.67 discount from closing price yesterday at Rp1,340 per share.
According to the company's announcement today, it will seek approval shareholders' meeting scheduled on August 10 2011.

Disclosure: No position at the stock mentioned above.  

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