“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Thursday, November 15, 2007

Indonesia Barito cleared for $1 bln rights issue

Jakarta (ANTARA News) - Indonesia's market regulator has given its approval for a planned $1 billion rights issue by timber company PT Barito Pacific Tbk , which would be the fourth biggest rights issue in the country's history.

Shares in Barito Pacific slid more than 10 percent last week after Bapepam said it would take more time to review the rights issue, aimed at financing the acquisition of a petrochemical company PT Chandra Asri.

Fuad Rahmany, the chairman of the country's capital market watchdog, told Reuters in a mobile phone text message the agency had sent a clearance letter on Wednesday, which allows the firm to seek shareholder approval for the plan.

Barito Pacific, founded by Indonesian businessman Prajogo Pangestu and now 21 percent owned by Commerzbank (SEA) Ltd, said in a prospectus in late September that 87.95 percent of the proceeds from the rights issue would be used to help acquire a 70 percent stake in Chandra Asri.

Barito said the stake in Chandra Asri was valued at $1.05 billion, adding that it would seek approval from its shareholders for the acquisition and rights issue plan.

The company plans to acquire a 14.6 stake in Chandra Asri from PT Inter Petrindo Inti Citra, a company 99.6 percent owned by Pangestu, for $219 million, and will buy a 55.4 percent stake in Chandra Asri from two Malaysia-based companies, Strategic Investment Holdings and MIH.

Barito had said that its Singapore-based affiliate, Magna Resources Corporation Pte Ltd, will buy any shares from the rights issue that are not taken up by shareholders.

Barito Pacific, which mainly produces plywood products, has a total stock market value of about $1.29 billion. Its share price has jumped more than six times so far this year.

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