JAKARTA, May 31 (Reuters) - Indonesian petrochemical firm PT Chandra Asri Petrochemical plans to raise up to 5 trillion rupiah ($375.38 million) through a rights issuance, IFR reported citing two sources with knowledge of the transaction.
Proceeds from the shares sale will be used to help fund the company’s capacity expansion, according IFR, a Thomson Reuters publication. Details for the offer will be released later.
Deutsche Bank, BNP, Credit Suisse, CLSA and Bank Mandiri were hired for the transaction.
$1 = 13,320 rupiah Reporting by S. Anuradha of IFR; Editing by Christian Schmollinger