Indorama's bonus shares

JAKARTA (JP): PT Indorama Synthetics, a major blended synthetics yarn producer in the country, said yesterday that it will issue one bonus share for every two equity shares owned by its existing shareholders.

The bonus shares will be issued from the conversion of the company's capital gains raised during the initial public offering, S.P. Lohia Indorama's vice president said in a release made available here yesterday.

"The company has Rp 63.18 billion (US$28.79 million) in its agio as of Sept. 30 this year," he added.

The bonus share issuance was approved by the extraordinary meeting of its shareholders at its head office in Purwakarta, West Java, yesterday, he said.

The new issue will increase Indorama's issued shares to 146.94 million, Lohia said. (fhp)