Astra shareholders approve rights issue

Newswire

JAKARTA, Dec 20 (Reuters) - Shareholders of Indonesia's leading auto maker PT Astra International on Friday approved the company's planned rights issue that will raise about $158 million. Part of the proceeds will help Astra cut its hefty debts. "It has been approved," Astra's spokesman, Aminuddin, told reporters. Under the plan, Astra will issue 1.43 billion new shares with a ratio of 13 for seven at the price of 1,000 rupiah each. By 0432 GMT Astra, 32 percent owned by Singapore's ...

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