The Jakarta Globe reports that Indonesia’s Bakrie Telecom, the telecoms arm of local conglomerate the Bakrie Group, has raised IDR557 billion (USD58 million) through the sale of shares through a non pre-emptive rights offering. It is understood that another Bakrie Group company, Bakrie Global Ventura, acted as the principal buyer for the sale which was priced at IDR265 per share – more than double Bakrie’s current stock price.
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OVETEL Bakrie raises USD58m to pay bonds
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