Indonesia shipping firm in $58 mln rights issue
JAKARTA, May 25 (Reuters) - Indonesian shipping firm, PT Berlian Laju Tanker Tbk (BLT) (BLTA.JK), launched on Monday a rights offer aiming to raise 591.73 billion rupiah ($57.67 million).
The firm said in a prospectus published in the Bisnis Indonesia newspaper that it will offer shareholders one new share for every three existing shares at 425 rupiah a share, representing a discount of around 54 percent to Friday's closing share price of 920 rupiah a share.
PT Tunggaladhi Baskara, which owns a 53.34 percent stake in BLT, will be the standby buyer for the offer.
The shipping firm announced on May 19 that it planned to raise 500 billion rupiah from the sale of conventional and Islamic bonds.
The proceeds of the bonds issues will be used to finance tanker purchases, as well as for working capital and for refinancing.
The firm reported a net profit of $107.76 million for the January-March period, down 7.64 percent from $116.67 million a year ago.
BLT shares were trading down 4.35 percent as of 0712 GMT, against a 0.63 percent gain in the broader market .JKSE. ($1 = 10,260 rupiah) (Reporting by Tyagita Silka; Editing by Ed Davies)
