JAKARTA - PT Pembangunan Perumahan Tbk (PTPP) obtained shareholders approval to launch rights issue of Rp4.41 trillion. Of the bonds, series B bonds will be issued amounting to 1.78 billion shares. The government has a portion of Rp2.25 trillion from the rights issue. In addition, PTPP targets to launch the IPO of its subsidiary PP Pracetak and PP Alat in first half of 2017, followed by PP Energi and PP Infrastruktur in fourth quarter 2017.
The company targets to raise its equity five times to Rp25 trillion in the next 3-4 years. PP Precast targets to raise Rp1.1 trillion with new equity, while PP Peralatan and PP Energi targets to raise Rp1.15 trillion and Rp4 trillion respectively.