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Philip Morris Moves Ahead With Rare Southeast Asia Deal – Wall Street Journal

SINGAPORE—Philip Morris International Inc., which makes and sells Marlboro cigarettes outside the U.S., is raising as much as US$1.4 billion by selling stock in its Indonesian operations, providing a rare share sale in Southeast Asia at a time when there are few deals in the region.

New York-based Philip Morris will start taking orders from institutional and retail investors starting Monday for the share sale in PT HM Sampoerna Tbk., people with knowledge of the transaction said. Philip Morris is selling the shares…

Philip Morris Moves Ahead With Rare Southeast Asia Deal – Wall Street Journal}

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