JAKARTA (TheInsiderStories) - PT Barito Pacific Tbk (IDX:BRPT) have pledged 850 million unit of shares in PT Chandra Asri Petrochemicals Tbk (IDX:TPIA), its subsidiary, as collateral for loans amounting to USD300 million. The move was approved by the company’s shareholders during an extraordinary shareholders meeting, the company said in a disclosure to the Indonesian Stock Exchange Wednesday.
Currently, Barito holds 45.04% shares of Chandra Asri, the country’s largest petrochemical company. (*)