Adhi Karya Spent Most of Its Rights Issue Proceeds on LRT Project
In line with the progress in the light rail transit (LRT) project, Indonesian construction company Adhi Karya has used the majority of funds that were assembled through the company's rights issue. Based on a report released by the state-controlled company, it has already used IDR 2.4 trillion (approx. USD $179 million) - or about 88 percent of rights issue proceeds. The rights issue took place on 22 September 2015.