Sampoerna launches rights issue to boost float

Philip Morris is obliged to offload part of its stake in its Indonesian unit before the nation's new free-float requirements come into effect in early 2016.

American tobacco giant Philip Morris International echoed the Indonesia Stock Exchange’s call for bigger free floats on Monday by launching a share sale worth up to Rp20.3 trillion ($1.4 billion) in local unit PT Hanjaya Mandala Sampoerna.

¬ Haymarket Media Limited. All rights reserved.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Share our publication on social media
Share our publication on social media