Sep
01
Philip Morris Tests Interest in $1.9 Billion Indonesia Offering
ByPhilip Morris International Inc.’s Indonesian arm began gauging demand for an as much as $1.9 billion rights offering, part of a deal that will see the world’s largest listed tobacco company cut its stake in the local unit.
The company’s PT Hanjaya Mandala Sampoerna subsidiary began meeting fund managers Wednesday about an offering of 269.7 million shares in a 4-for-65 rights issue, according to terms for the deal obtained by Bloomberg. It plans to sell the shares at 63,000 rupiah to 99,000 rupiah apiece, with a final price range to be announced at the end of the investor education period that runs through Sept. 17…
Philip Morris Tests Interest in $1.9 Billion Indonesia Offering
