Reliance Industries lines up $7bn rights issue

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By Jonathan Breen
04 May 2020

Indian conglomerate Reliance Industries is planning a jumbo rights issue of Rp531.2bn ($7.01bn).

The company’s board of directors approved the fundraising at a meeting on April 30, according to a stock exchange filing. It will be the first rights offering by Reliance in three decades.

The price for the issue is Rp1,257 per rights share, which comes at a 12% discount ...

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