Astra files for rights offering

ING and JPMorgan to lead a $100 million to $150 million rights issue for the Indonesian auto manufacturer.

A registration statement was filed with the Indonesian regulator Bapepam yesterday Monday allowing Astra to raise up to $150 million from a rights offering. The deal is contingent on the company's creditors approving its debt restructuring at a vote on November 26, followed by its shareholders approving the deal at an EGM on December 16.

ING and JPMorgan have been mandated as lead managers to the deal and both have a long-standing relationship with either Astra or its...

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