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Today's Headlines Rajawali Nusantara Indonesia

  • Islamic Finance: Rajawali Nusantara Indonesia's Sukuk in Demand

    Islamic Finance: Rajawali Nusantara Indonesia's Sukuk in Demand

    Islamic bonds (sukuk) sold by Rajawali Nusantara Indonesia, a government owned company engaged in the agro-industry, pharmaceutical industry and trade, were 2.4 times oversubscribed. Initially, the company targeted to sell IDR 200 billion (approx. USD $15 million) worth of sukuk (with a coupon rate of 10 percent). However, demand was as high as IDR 475 billion.

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  • Phapros to Conduct Initial Public Offering on Indonesia Stock Exchange

    Phapros, subsidiary of state-owned Rajawali Nusantara Indonesia, intends to conduct an initial public offering (IPO) on the Indonesia Stock Exchange in 2015 by offering 10 to 20 percent of its enlarged capital to the public. Through this corporate action, Phapros, a pharmaceutical products manufacturer, aims to raise IDR 500 billion (USD $42.3 million) which will be used to finance the company's capital expenditure in the next two years. The company expects to grow on the implementation of Indonesia’s social security program per 1 January 2014.

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