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Securities firm PT Kresna Graha Sekurindo plans to raise at least 2 trillion rupiah ($170 million) via a rights issue, to acquire an affiliated company, said Chief Executive Michael Steven.
Kresna plans to consolidate other businesses including in insurance, IT and mining, in order to boost its asset value up to five times from 1.3 trillion rupiah at present. The firm will seek shareholder approval at its annual shareholder meeting. (Kontan)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11,763 rupiah) (Compiled by Jakarta Newsroom; Editing by Anand Basu)