Toll road and ports builder and operator PT Nusantara Infrastructure Tbk plans to raise about 380 billion rupiah ($32.53 million) via a rights issue by selling 10 percent of its enlarged capital, said CEO M. Ramdani Basri.
The company plans to use the proceeds to acquire telecommunication towers being sold by PT XL Axiata Tbk . Basri said Nusantara plans to acquire between 300 and 500 towers. The company will seek shareholders approval in September. (Kontan, Investor Daily, Bisnis Indonesia)
Note: Reuters has not verified this story and does not vouch for its accuracy. (1 US dollar = 11,680.0000 rupiah) (Compiled by Jakarta Newsroom; Editing by Subhranshu Sahu)