Pertiwi's rights issue

JAKARTA (JP): PT Duta Pertiwi extraordinary shareholders have approved the issue of 693,750,000 rights.

PT Duta Pertiwi is part of the Sinar Mas Group.

The firm's director, Anisa Himawan, said Tuesday the issue would entitle shareholders to subscribe to one new share for every old share they hold.

She said the shares, each with a nominal value of Rp 500, would be offered to the shareholders at Rp 725 a share.

She said with the rights issue would increase the number of shares to 1.38 million

Anisa said 47 percent of the proceeds from the issues would be used to strengthen the company's capital and the remaining 53 percent to increase the company's investment in its property subsidiaries.(09)