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Chandra Asri seals $378m rights-and-block trade

Indonesia’s Chandra Asri Petrochemical completed the placement portion of its Rph5tr ($378m) rights-plus-block combo on Monday, in a deal that benefited from the issuer’s focus on transparency.

  • By John Loh
  • 08 Aug 2017

The equity offering involved a renounceable rights issue and a concurrent sale of ex-rights shares that were renounced by the major shareholders.

Deutsche Bank, as sole global co-ordinator, led the share sale with two key objectives: to help Chandra Asri meet the regulatory minimum free float of 7.5%, ...

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