Oct 5, 2011

Sumber Alfaria to hold rights issue

PT Sumber Alfaria Trijaya Tbk today announces a 343.17 million new shares issuance or 10% of its enlarged capital without preemptive rights within 2 years in a bid to improve its capital structure and pay its debt.
Sumber Alfaria has mandated PT Danpac Sekuritas as its financial adviser. Sumber Alfaria is seeking an approval for the non-preemptive rights issue on October 20 2011.
Sumber Alfaria is still controlled by stellar businessman in the retail industry namely Djoko Susanto through his vehicle PT Sigmantara Alfindo that currently holds 58.79% stake.
In the first half of this year, Sigmantara Alfaria posted Rp8.34 trillion revenue, Rp119.25 billion operating profit, and Rp64.44 billion.

Disclosure: No position at the stock mentioned above.

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