Nov 23, 2010

BTPN sets rights issue at Rp7,000

PT Bank Tabungan Pensiunan Nasional Tbk (BTPN) determines the price of rights issue I at Rp7,000, enabling the bank to obtain Rp1.32 trillion fresh fund on 21 December.
Based on the prospectus of rights issue I published today, mentioned that BTPN will issue 188.79 million new shares in the rights issue I.
Each holder of five BTPN old shares is entitled to one preemptive right (HMETD) in order to purchase one new shares that issued.
According to plan, BTPN will use the whole proceeds of rights issue I to strengthen the corporate capital and growth in form of credit expansion.
CIMB Securities Indonesia and Danareksa Sekuritas becomes the standby purchaser of shares that is not implemented by BTPN shareholders reaching to 94.39 million shares. 

Disclosure: No position at the stock mentioned above.

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