Jaya Construction Aims Rp 587 Billion From Rights Issue

Indobusiness - PT Jaya Mangala Construction Pratama Tbk (JKON) plans to hold a public offering with Preemptive Rights (ER) alias rights issue 326.17 million shares.

As quoted from the company's written statement on Friday (24/05/2013), the price of shares in the rights issue is in the range of USD 1350-1800.

Thus, funds that could be achieved by the company in the corporate action of at least Rp 440.3 billion and a maximum of Rp 587.1 billion.

Proceeds from the public offering, among others, will be used for additional working capital to the company's subsidiary, PT Jaya Beton Indonesia and PT Jaya Trade Indonesia Rp 50 billion.

While the rest will be used by the Company to make investments in its subsidiaries, through inclusion, and subsequent loans used to finance infrastructure projects.

This corporate action will have to wait approval of shareholders through the Annual General Meeting of Shareholders (EGM) to be held on June 24, 2013.