Indonesia's CGV Blitz operator raises $49.6 bln in rights issue

CJ CGV

11/08/2016 05:10

JAKARTA, Aug 11 (Reuters) - Indonesian cinema operator PT 
Graha Layar Prima  BLTZ.JK  has raised 650 billion rupiah 
($49.56 million) through a rights issue to help the firm pay off 
debt and finance expansion, it said in a statement on Thursday. 
    The company, which operates the CGV Blitz cinema chain, sold 
99.3 million new shares at 6,550 rupiah per share. South Korean 
CJ CGV Co Ltd  079160.KS  bought 331.75 billion rupiah worth of 
shares, raising its stake in Graha Layar to 23 percent from 
14.75 percent, the statement said. 
    Earlier this year, Indonesia opened its cinema industry to 
foreign investors.  urn:newsml:reuters.com:*:nL3N15V2A3 
 
($1 = 13,115 rupiah) 
 
 (Reporting by Fransiska Nangoy; Editing by Sunil Nair) 
 ((Fransiska.Nangoy@thomsonreuters.com; +62 21 2992 7610; 
Reuters Messaging: 
fransiska.nangoy.thomsonreuters.com@reuters.net)) 
 
Keywords: INDONESIA GRAHA LAYAR/