CP Prima's rights issue

CP Prima's rights issue

JAKARTA (JP): PT Central Proteinaprima (CP Prima) yesterday
obtained approval from its shareholders to issue rights shares to
raise funds of Rp 27 billion (US$11.4 billion).

A company director, Johannes Sudirto, announced after an
extraordinary shareholders meeting yesterday that for the issue,
holders of 20 old shares will be eligible to buy one new share at
Rp 1,800.

The company's shares closed at Rp 2,250 on the Jakarta Stock
Exchange yesterday.

Sudirto said proceeds from the issue will be used to partially
finance a planned share acquisition in PT Central Pertiwi
Bretasena, a shrimp feed company.

In a meeting last week, the shareholders approved the plan to
acquire a 48 percent stake in Central Pertiwi at a cost of Rp 75
billion.

Sudirto said that rights shares will be listed on the Jakarta
Stock Exchange in July while the trading period of the shares
will last from July 2 to July 31.

CP Prima is a publicly-listed producer of day-old chicks and
shrimp feed. (alo)