Oct 26, 2011

Tiga Pilar sets rights issue at Rp500-Rp560

Rice and noodle maker PT Tiga Pilar Sejahtera Food Tbk (AISA) has set a range of its rights issue at Rp500-Rp560 per share, entitling the company with a proceed of Rp700 billion.
During these corporate action, Tiga Pilar plans to issue 1.2 billion new shares. The proceed will be used by the company as working capital.
Tiga Pilar has mandated PT CIMB Securities as the lead underwriter of the rights issue. "We have submitted the rights issue documents to Bapepam-LK yesterday," said Tiga Pilar Finance Director Sjambiri Lioe as quoted by Bisnis Indonesia today. Each holder of four existing shares will entitle with three new shares.

Disclosure: No position at the stock mentioned above.

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