By Andjarsari Paramaditha Palm oil plantation firm BW Plantation plans to sell 405.1 million shares, or 10 percent of its enlarged capital, at a price of 850 rupiah per share, via a private placement, said corporate secretary Kelik Irwantono.
The company aims to raise 344.33 billion rupiah ($30.49 million) to strengthen its capital for the next two years. The plan is subject to approval from shareholders in an extraordinary meeting scheduled in Nov. 6, the Investor Daily reported.
($1 = 11,291.5 rupiah)
* Note: Reuters has not verified this story and does not vouch for its accuracy. (Compiled by Rin Hindryati; Editing by Supriya Kurane)