Waskita Karya to Raise $795m in Next 2 Years

JANUARY 16, 2015

Jakarta. Indonesian state construction firm Waskita Karya is planning to raise Rp 10 trillion ($795 million) in capital in the next two years.

The company will obtain the funds through a rights issue and government injection, it said in a stock exchange filing late on Thursday.

The government owned 67.3 percent of Waskita as of March 2014, according to Thomson Reuters data.

Indonesia unveiled plans on Monday to inject nearly $4 billion into state-linked companies in the infrastructure sector and the biggest bank by assets, to deploy for growth the money it will save by slashing fuel subsidies.

Reuters

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