JAKARTA (Yosefardi) – Shipping company PT Bina Buana Raya Tbk (BBRM) targets to raise Rp372.5 billion via rights issue of 1.6 billion shares priced at Rp230 per share.
Each sharesholder recorded at November 25, 2014 with 100 old shares will be entitled to buy 43 new shares.
If the existing shareholders failed to exercise their rights, then Malaysia-based shipping company Nam Cheong Pioneer Sdn Bhd will buy maximum 1.6 billion new shares or 29.81% of its enlarged shares capital.
Currently, PT Marco Polo Indonesia holds 49.59% BRRM shares, PT Sinar Bintang Makmur 25.31%, and public holds 23.88%.
BRRM booked net profit of US$534,832 in the first nine months to September of this year, dropped 88.1% from US$4.78 million in the same period of last year. Revenues declined 7.73% to US$25.03 million.