Aug 4, 2011

Sentul City rights issue approved

Shareholders meeting yesterday approved a Rp333.98 billion non preemptive rights of property developer PT Sentul City Tbk (BKSL).
The company plans to issue 2.85 billion of new shares at Rp117 per share. The proceed will be used by Sentul City to acquire PR Aftanesia Raya and additional working capital.
Finance Director Pesta Uli Sitanggang said the company has set the rights issue at Rp117 per share. But, Pesta Uli declined to mention the standby buyers.
"We have several standby buyers both from our shareholders and external parties. But, we can't mention their name," Pesta Uli said.

Disclosure: No position at the stock mentioned above.  

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