Investment holding company Sinar Mas Multiartha plans to issue 623.7 million new shares, or 10 percent of the firm's enlarged capital, worth up to 2.1 trillion rupiah ($182 million), according to Finance Director Kurniawan Udjaja.
The company, which has an array of financial services subsidiaries, will seek shareholder approval for the move to raise working capital at an extraordinary meeting on June 13. It plans to spend 1.5 trillion rupiah on capital expenditure this year, up from last year's 700 billion rupiah. (Investor Daily)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11517 rupiah) (Compiled by Jakarta Newsroom; Editing by Kenneth Maxwell)