Dec 30, 2010

Bank Agro plans rights issue in 2011

PT Bank Agroniaga Tbk (Bank Agro) aims to hold rights issue in 2011 in a bid to strengthen capital structure, a local media namely Investor Daily reported today.
"There is a commitment from shareholders to inject capital into Bank Agro. As a publicly listed company, it might be done via rights issue," said Bank Agro's Corporate Secretary Hirawan Nur Kustono today.
According to Hirawan, Indonesia's largest lender in microfinance financing PT Bank Rakyat Indonesia Tbk (BBRI) as Bank Agro shareholder, is ready to boost capital.
BBRI acquired 88.65% shareholding in Bank Agro at Rp330.2 billion or Rp109 per share from seller Dana Pensiun Perkebunan.

Disclosure: No position at the stock mentioned above.

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