Limited Public Offering I
On 4 August 2009, XL announced the plan to conduct a right issuance to raise proceeds of USD 300 million. The Right Issue was completed on 14 December 2009 with the issuance of 1.4 billion shares in the amount of IDR 2.8 trillion. The total number of outstanding shares is now 8.5 billion. After deducting with issuance cost, the net proceeds of this exercise will be fully used to repay debt and further strengthen our balance sheet.
Please click here for the press release on the Rights Issue completion with detailed explanations on which debts are repaid using the proceeds.