Suba Indah's stock split

Wed, 12 Jul 2000, 00:00 WIB | Source: JP

JAKARTA (JP): Publicly-listed PT Suba Indah food and beverage
company will split its stock in light of its upcoming rights
issue to raise about Rp 337.5 billion (US$37.5 million) fresh
funds for new investment.

The company announced on Tuesday that it would issue 675
million new shares with a par value of Rp 500 in its rights issue
to partly finance its Rp 523.8 billion corn processing plant in
Cilegon, West Java.

The corn plant project, slated to come on stream in 2002, will
have a daily processing capacity of 1,000 metric tons, thereby
creating a stable market for corn growers in West Java.

Suba Indah's director Ibnu.S said that those registered as
shareholders of the company as of July 14 would be entitled to
the rights shares.

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