Oct 26, 2011

Tunas Baru to raise Rp114 billion

PT Tunas Baru Lampung Tbk (TBLA), that is controlled by Sungai Budi Group, aims to raise Rp114 billion by issuing new shares without preemptive rights.
In an official statement filed to Indonesia Stock Exchange, Tunas Baru will issue 200 million new shares or 4.05% of its outstanding shares at Rp570 per share. The rights issue proceed will be used by the company to pay debt to UOB Kay Hian.

Disclosure: No position at the stock mentioned above.

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