JAKARTA: PT Laguna Cipta Griya Tbk, real estate developer, is planning to release new shares worth IDR500 billion this year to fund business expansion.The company plans to develop a superblock project by constructing apartment, business sector and commercial area in the second half of 2011 on a 20 hectare land in East Jakarta, president Director Alwi Bagir Mulachela told Bisnis.We are studying alternative sources but we are more likely to conduct right issues and bank loan facility. We aim to pocket more than IDR500 billion.To run the projects, Laguna Griya needs IDR2 trillion-IDR2.5 trillion where IDR1.5 trillion will be taken from internal cash and the remaining will be from strategic partners.At the moment, there is one local investment group that has showed it interest to invest in the project. He refused to detail the name.We are also currently negotiating with PT Bank CIMB Niaga Tbk and PT Bank Tabungan Negara Tbk to obtain the loan facility. (18) (t05/msw)

---

Artikel Terkait

Berita Lainnya

Berita Terbaru