May 31, 2017 / 9:03 AM / 5 months ago

Indonesia's Chandra Asri plans 5 trillion rupiah rights issue - IFR

JAKARTA, May 31 (Reuters) - Indonesian petrochemical firm PT Chandra Asri Petrochemical plans to raise up to 5 trillion rupiah ($375.38 million) through a rights issuance, IFR reported citing two sources with knowledge of the transaction.

Proceeds from the shares sale will be used to help fund the company’s capacity expansion, according IFR, a Thomson Reuters publication. Details for the offer will be released later.

Deutsche Bank, BNP, Credit Suisse, CLSA and Bank Mandiri were hired for the transaction.

$1 = 13,320 rupiah Reporting by S. Anuradha of IFR; Editing by Christian Schmollinger

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