Indonesia: Bumi Teknokultura cuts rights issue plan to $359m; Bakrie Group to offer shares to creditors

Photo by Bakrie & Brothers

Agricultural biotechnology company PT Bumi Teknokultura Unggul Tbk (BTEK) has cut down the size its planned rights issue from Rp5.5 trillion ( $413 million ) to Rp 4.8 trillion ( $359 million ). Meanwhile, debt-ridden Bakrie Group plans to offer part of its shares to three creditors in a debt for equity swap.

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