Philip Morris’ Indonesian unit to raise $1.39b via rights issue

Indonesia’s cigarette maker PT HM Sampoerna Tbk , a unit of US cigarette producer Philip Morris International Inc., is raising Rp 20.34 trillion ($1.39 billion) from the sale of 264.2 million units of new shares or 7.50 per cent of the total paid-up capital through rights issue, the company said, in a statement on Thursday.