Surya Internusa to Hold 227.673 Mn Rights Issue

Thursday, 26 June 2008 08:46:03
StockWatch (Jakarta) - Property company PT Surya Semesta Internusa Tbk (Surya Internusa/SSIA) ha splanned to hold the first rights issue of 227.673 million shares at nominal price of IDR500 and offering price of IDR675 per share to raise proceeds of IDR153.679 billion.

Surya Internusa's management said in the company's rights issue prospectus that the management will bring the plan into the company's AGM on Friday (27/6) in order to be approved by the company's shareholders.

Under the rights issue plan, every holder of 25 old shares will have the right untul July 9 to buy six new shares, while cum and ex rights dates in the regular market will be on July 4 and 7, cum and ex rights dates in the cahs market on July 9 and 10, and period for trading the rights on July 11-17, 2008.

Of the total rights issue proceeds, IDR93 billlion will be used for increasing stake at PT Sitia Agung Makmur, US$1.44-US$3 million for purchasinf stake of PT Suryalaya Anindita International form Chord Limited, dan the rest will be used as working capital.