JAKARTA: PT Delta Dunia Makmur Tbk, a holding company to an Indonesian-based open-cut coal mining service company, is estimated to raise up to IDR1.83 trillion at a rights issue, Investor Daily reported, citing source familiar with the transaction.
The company would offer 1.53 billion shares at price of IDR1,200 a share. Each holder of 500 existing shares will entitle to buy 79-112 new shares. Delta Dunia reportedly has appointed Credit Suisse and Mandiri Sekuritas as its financial advisors.
Northstar Tambang Persada Ltd, a majority shareholder of Delta Dunia, would exercise its rights as well as serve as a standby buyer. Currently Northstar owns 40% of Delta Dunia's shares.
Northstar Tambang is a investment company controlled by Northstar Equity Partners. Meanwhile, China Investment Corporation, Texas Pacific Group, and Government of Singapore Investment Corporation own shares without voting rights.
Delta Dunia will seek shareholders' approval in a meeting scheduled on June 13, 2011. (NOM)
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Source: http://www.bisnis.com/corporate/26234-delta-dunia-to-raise-idr183-trillion-at-rights-issue
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