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Reliance Industries lines up $7bn rights issue
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 ...Already a subscriber? Login
