Astra raises rights issue to $150 mln-paper

Newswire

SINGAPORE, Sept 27 (Reuters) - Indonesia's indebted auto giant PT Astra International is targeting a larger rights issue of $150 million as part of its debt restructuring efforts, The Business Times said on Friday. The company said last week it was considering up to a $100 million rights issue "subject to negotiation with creditors". The $150 million issue -- about 20 percent of Astra's market capitalisation in size -- will be priced at around 2,220 rupiah which is a slight discount to ...

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