C&C commits up to $87.5 mln for Astra


SINGAPORE, Dec 18 (Reuters) - Singapore-based Cycle & Carriage Ltd (C&C) has committed up to $87.5 million to subscribe for shares of PT Astra International via a rights issue the Indonesian car manufacturer said on Wednesday. Astra, in which C&C has a 32 percent stake, announced a seven-for-13 rights issue at 1,000 rupiah per share to raise up to 1.43 trillion rupiah ($161 million) to partly reduce its debt. The planned proceeds are larger than its initial guidance to raise ...

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