Astra Otoparts would raise a maximum proceeds of IDR 3.1T

Astra Otoparts would raise a maximum proceeds of Rp3.1tn through a rights issue

Astra Otoparts (AUTO), a subsidiary of Astra International (ASII), will conduct rights issue and raise a maximum Rp3.1tn of proceeds. The company would also conduct an AGM on 17 April 2013.

Key details of the rights issue are as follow:

• AUTO will issue a maximum of 1.4bn of rights, potentially raising a maximum proceeds of Rp3.1tn
• Every 100 of existing shares are entitled for 20 to 40 rights with exercise price range of Rp2,200-3,400/share
• Key indicative timetables are set as the following: ex-right date on 25 April 2013, exercise date on 1-7 May 2013
• About 74% of the net rights issue proceeds would be used for early debt repayment, and the remaining 26% for business expansion in the form of equity participation and/or loans to subsidiaries and/or associates companies and/or jointly-controlled entities.

Daihatsu targets 200k units of sales this year

Daihatsu aims to book 200k units of sales this year, implying a 23.4%yoy growth. The target includes some portion of LCGC and exports sales. In supporting the growth, Daihatsu is completing a new 120,000 units/year assembling plant that is expected to commercialize in 1Q13. The new factory will increase its total assembling capacity to 460k units/year, making Daihatsu as the largest assembler domestically. (Investor Daily)