Dec 21, 2010

Bukopin eyeing Rp1.14 trio rights issue

PT Bank Bukopin Tbk (BBKP) today announces rights issue of 2.04 billion B series shares or 25% stake at Rp480-Rp560 per share, enabling it to snap up a maximum of IDR1.14 trillion proceed.
Each holder with three existing stocks have one right to buy one new share offered during such corporate action, a formal prospectus published today said.
PT CIMB Securities Indonesia acts standby buyer for Bukopin's rights issue with committment to purchase the new shares at Rp480-Rp560 per share.
Bank Bukopin will use the proceed from rights issue as working capital to develop financing business.

Disclosure: No position at the stock mentioned above. 

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