Fajar Surya sells shares

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)