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Friday, August 19, 2011

PT Bakrieland Development Tbk - Has Spent Right Issues Fund of Rp. 2.5 Trillion

PT Bakrieland Development Tbk (ELTY) has spent the rights issue amounting to Rp 2.5 trillion. Property owned by the Bakrie Group company itself has issued an alias rights issue of new shares amounting to Rp 3.2 trillion in July last year.

"Most of us use for acquisitions Jonggol Bukit Asri," said Director ELTY Hiramsyah S Talib in Jakarta, Thursday (18 / 8). ELTY planning controls 51% stake in the BJA, but until now, a new company providing funding of Rp 1 trillion, which is used as an initial payment of acquisition.

Actually, to have a 51% stake in Bukit Jonggol, ELTY must pay Rp 1.9 trillion. Repayment plan will be conducted later this year using funds left right issue. Yesterday was (18 / 8), ELTY has changed the use of its rights issue funds, of which about Rp 200 billion that was previously used for the needs of Bakrie Toll Road, diverted to repayment of the acquisition.

In addition to paying a deposit for the acquisition of BJA, fund a rights issue that has been used for projects in epicentrum Rp 200 billion. As for the Bakrie Toll Road, the company had spent Rp 500 billion which is used for land acquisition and maintenance. ELTY also have used the Rp 75 billion to fund his project rusunami. The rest was for the purchase of land in Bogor.

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