Indonesia: Hero Supermarket plans $304 million rights issue
The supermarket chain is offering 889.4 million shares, or 21.3 percent from its enlarged stake, at 3,350 rupiah per share. Dairy Farm International Holdings Ltd will be the standby buyer of the rights issue.
In March 2012, Hero won rights to franchise Swedish furniture giant IKEA stores in Indonesia to tap booming domestic consumption from an emerging middle class in Southeast Asia's biggest economy
The supermarket operator share was down 0.63 percent at 3,975 rupiah, while the broader Jakarta Composite Index was down 1.07 percent.
Source: reuters.com
