All-Link Air & Sea to Buy 51% Stake in Indonesian Freight Forwarder
MT Newswires10-21
All-Link Air & Sea (SGX:ALK) plans to acquire a 51% controlling interest in Indonesian freight forwarder, All Link Indonesia, through a 5.1 billion Indonesian rupiah cash subscription for 5,100 new shares, according to a Tuesday filing.
All Link Indonesia's existing shareholders will subscribe for another 4,400 new shares, retaining a combined 49% stake in the enlarged share capital.
The subscription will increase the company's issued and paid-up capital to 10 billion rupiah.
The proposed investment is subject to Indonesian regulatory approvals, including the conversion of PT All Link from a domestic-investment company to a foreign-investment company, it said.
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