Property developer Bumi Serpong Damai (BSDE) expects to raise Rp1.23 trillion from the private placement, issuing 1.92 new shares or 10% of enlarged capital to its main shareholders PT Paraga Artamida and PT Ekacentra Usahamaju with ownership of 26.57% and 25.01% respectively. The proceeds of rights issue will be used for strengthening the capital structure, finances the project and infrastructure development.
