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 majority shareholder, Jardines-owned Cycle and Carriage ING, for example, first led the company to market in 1991

It had originally been thought that ABN AMRO would join the two, but the...

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team subscription (2-5 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at [email protected], or +(852) 2122 5222