Astra completes final allotments for rights issue

The Indonesian auto manufacturer''s rights offering comes to a successful conclusion as majority shareholder, Cycle & Carriage, increases its stake.

Jackie Horne

February 05, 2003

Jardine-owned and Singapore-listed Cycle & Carriage (C&C) announced yesterday (Wednesday) that it has increased its ownership of Astra International from 31.14% to 34.31%. The announcement brings to completion one of the most important equity transactions in recent Indonesian history and in the end, one of the most successful.

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