Jakarta (ANTARA News) - Shipping firm PT Berlian Laju Tanker said it plans to buy second-hand and new vessels for a total of 500 mln usd over the next 12 months, pending shareholders' approval at a meeting scheduled for May 24.
In a statement, the company said the vessels will be purchased using internally generated cash and bank loans.
The company added it also plans to raise funds via the issue of 207.88 mln new shares, or 5 pct of total shares on issue, also pending shareholders' approval.
The rights issue will be conducted through a private placement mechanism to one or a number of new investors, the company told XFN Asia.
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