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Article: PT APAC made right-issue to acquire AIC shares
- Article from:
- Indonesian Commercial Newsletter
- Article date:
- October 7, 1996
CopyrightCOPYRIGHT 1996 P.T. Data Consult, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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In mid July 1996, PT APAC Centertex Corporation - which was previoiusly called PT Mayatexdian Industri - made a second limited public offering involving 408 million common shares at a face value of Rp 1,000/share. From this right-issue, this company managed to raise Rp 408 billion in low-cost funds.
According to the plan, most (61.4%) of the funds obtained from this right-issue will be used to acquire 275 million shares of PT APAC Inti Corpora (PT AIC) in PT APAC Century, another 36.64% to increase the company s investment in PT AIC by taking over the new shares which the latter will issue, and the other 1.96% to increase the company's working capital by enlarging ...