Fajar Surya sells shares

JAKARTA (JP): PT Fajar Surya Wisesa, a producer of corrugated paper in Bekasi, West Java, plans to sell 47 million shares of common stock to the public next month.

The company said yesterday that around 60 percent of the funds generated from the share issuance will be used to procure new machinery and the remaining 40 percent to strengthen the company's capital structure and repay long-term loans.

The shares, which will be sold at a price of between Rp 2,800 and Rp 3,200 during the primary offering period, will be listed on the Jakarta Stock Exchange (JSX).(hen)