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Article Excerpt
An executive briefing on real estate for May 14, 2007, prepared by Asia Pulse (http://www.asiapulse.com), the real-time, Asia-based wire with exclusive news, commercial intelligence and business opportunities.
BAKRIELAND EARNS US$416.6 MLN FROM RIGHTS ISSUE
JAKARTA - Property company PT Bakrieland Development (JSX:ELTY) earned Rp3.75 trillion (US$416.6 million) from its rights issue, exceeding a previously set target of Rp2.8 trillion.
Avenue Capital, a 12 per cent shareholder of Bakrieland Development bought its full entitlement under the rights issue, increasing its stake in the company to 25 per cent, Bakrieland secretary Nuzirman Nurdin said.
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