ACSET Indonusa to launch rights issue

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JAKARTA (TheInsiderStories) PT ACSET Indonesia, a construction company, announced its plan to launch rights issue to strengthen its working capital as well as to fund some of its projects. Under the rights issue scheme, the company will issue 300 million new shares in which the holder of 5 existing shares will have the right to get 3 new shares. The company said the rights issue plan has been by company’s shareholders on April 19, 2016.

The pricing of the rights issue is yet to be determined. It said 80 percent of the rights issue proceeds will be used to strengthen its working capital and 20 percent for financing its projects. The company owns a number of subsidiaries including Acset Indonusa (Vietnam) Co., Ltd, PT Innotech Systems, PT Sacindo Machinery, and PT Aneka Raya Konstruksi Mesindo. ACSET Indonesia is a subsidiary of PT United Tractors Tbk.(*)

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Source: The Insiderstories
ACSET Indonusa to launch rights issue

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