{
    "success": true,
    "data": {
        "id": 1516757,
        "msgid": "cmnp-to-raise-rp-500b-from-rights-shares-1447893297",
        "date": "1997-06-18 00:00:00",
        "title": "CMNP to raise Rp 500b from rights shares",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "CMNP to raise Rp 500b from rights shares JAKARTA (JP): Publicly listed toll road operator PT Citra Marga Nusaphala Persada (CMNP) will issue rights shares next month at a ratio of one to one to raise about Rp 500 billion (US$208.33 million). Citra Marga's director Tito Sulistio said yesterday the company would issue one billion shares with a par value of Rp 500 a share. \"The new shares will be listed on the stock exchanges on July 7,\" he said after the company's annual shareholders' meeting.",
        "content": "<p>CMNP to raise Rp 500b from rights shares<\/p>\n<p>JAKARTA (JP): Publicly listed toll road operator PT Citra<br>\nMarga Nusaphala Persada (CMNP) will issue rights shares next<br>\nmonth at a ratio of one to one to raise about Rp 500 billion<br>\n(US$208.33 million).<\/p>\n<p>Citra Marga's director Tito Sulistio said yesterday the<br>\ncompany would issue one billion shares with a par value of Rp 500<br>\na share.<\/p>\n<p>\"The new shares will be listed on the stock exchanges on July<br>\n7,\" he said after the company's annual shareholders' meeting.<\/p>\n<p>Tito said proceeds from the public limited offering would<br>\nfinance a 36.6 kilometer road project in Surabaya.<\/p>\n<p>The company is now building the toll road connecting Waru near<br>\nthe Surabaya airport of Juanda to Tanjung Perak seaport with a<br>\ntotal investment of about Rp 1.3 trillion.<\/p>\n<p>Construction started in March and is expected to be completed<br>\nin 2001.<\/p>\n<p>Citra Marga's chairwoman, Siti Hardijanti Rukmana -- who is<br>\npopularly known as Mbak Tutut -- recently said that the road<br>\nwould be built in three stages.<\/p>\n<p>The first stage covering 14.4 kilometers from Juanda to Waru<br>\nis due to be completed in 1999. The second stage spanning 11.1<br>\nkilometers from Tanjung Perak to Kenjeran is to be completed in<br>\n2000. The third phase stretching 11.3 kilometers from Tanjung<br>\nPerak to Tambak Oso is scheduled for completion in 2001.<\/p>\n<p>Tito said Citra Marga had earlier issued rupiah bonds worth Rp<br>\n275 billion and Eurobonds valued at about Rp 300 billion to<br>\nfinance the project.<\/p>\n<p>He said the company expected a 25 percent increase in net<br>\nprofit to Rp 154 billion in 1997, up from Rp 123.63 billion in<br>\n1996.<\/p>\n<p>In the first quarter alone, the company booked a Rp 32 billion<br>\nnet profit.<\/p>\n<p>The company's president Teddy Kharsadi said Citra Marga was<br>\nconsidering expanding overseas to countries including Turkey,<br>\nMauritius, Poland, Hungary and Rumania.<\/p>\n<p>\"We will go to Eastern Europe later this month to look into<br>\nbusiness opportunities there,\" he said. (09\/13)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/cmnp-to-raise-rp-500b-from-rights-shares-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}