JAKARTA (TheInsiderStories) - Cigarette maker PT Bentoel Internasional Investama Tbk (RMBA) is launching rights issue with an aim to raise funds amounting to Rp13.99 trillion.
On Monday (Apr. 18), the company announced its plan to issue 29.16 billion of new shares at a price of Rp480 per share. The proceeds of the rights issue will be used refinance its debts to Rothmans Far east B.V.amounting to Rp12 trillion.
Under the rights issue scheme, each unit of shares is eligible to buy 1 unit of share. Acting as standby buyer is British American Tobacco Ltd, which is the majority shareholer of the company. (*)