Tjiwi Kimia to Pocket Rp 1.3 Triliun From Rights Issue

Bareksa.com - As quoted from The Jakarta Post, Publicly-listed paper producer PT Pabrik Kertas Tjiwi Kimia Tbk expects to raise about Rp 1.3 trillion (US$108.4 million) from a rights issue later this month, the company’s top executive said.

Speaking to reporters following the shareholders meeting Thursday, Tjiwi Kimia director Suhendra Wiriadinata said that the company planned to use the proceeds as additional capital for its new joint venture PT OKI Pulp and Paper Mills in South Sumatra.

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