Publicly listed PT Bank CIMB Niaga Tbk (BNGA) intends to issue 1.41 billion new shares B class at Rp1,065/share during preemptive rights (rights issue), enabling the company to snap up Rp1.49 trillion cash.
In the rights issue prospectus published today, investors with 17 shares B class shareholders will obtain one rights to buy the new shares.
Preemptive rights will be exercised during December 30 2010 to January 7 2011. CIMB Niaga will use all the proceed from rights issue to develop business and strengthen long term financing.
Disclosure: No position at the stock mentioned above.
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