Indonesian property developer PT Pakuwon Jati aims to raise 1.7 trillion rupiah ($144.24 million) from a private placement, Finance Director Minarto Basuki said.
The company will sell 4.81 billion shares at a price of 363 rupiah each and plans to spend 300 billion rupiah to acquire new land. It has secured shareholders' approval for the placement. (Kontan, Investor Daily, Bisnis Indonesia)
Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11,786.00 rupiah) (Compiled by Jakarta Newsroom; Editing by Subhranshu Sahu)