JAKARTA (Yosefardi) – Shares of BW Plantation Tbk (BWPT) gained 3.4% to Rp910 per share this morning, rebounded 65% from its bottom. However the stock still lost 37% from its peak year to date.
Media reported this morning, BWPT mulls to issue new shares through private placement for strengthening its capital structure.
It plans to issue 405 million new shares, or maximum 10% of its enlarged capital, targets to raise proceeds of Rp300-400 billion.
As of June 2013, BWPT’s operating cash flow only amounted Rp34 billion, dropped 70% from Rp113 billion in the same period of last year. While debt ratio increased to 199.7% from 168.1% in previous quarter.