Hong Kong-listed First Pacific plans rights issue

The investment management and holding company, controlled by Indonesian tycoon Anthoni Salim, seeks to raise at least $500 million from the deal.

First Pacific, a Hong Kong-based investment management and holding company with operations in Asia, plans to raise at least HK$3.88 billion $500 million from a fully underwritten rights issue. The company, which is controlled by Indonesian tycoon Anthoni Salim, has set the subscription price at a 29.6% discount to Monday’s close.

The company intends to use the proceeds to strengthen its balance sheet, to finance potential acquisitions and for general corporate purposes, it said...

To continue reading, please login or register for free

Click for more on: rights issue | investment management | hsbc | airline | cimb

Print Edition

FinanceAsia Print Edition

CONFERENCES