PT Bank CIMB Niaga Tbk (BNGA) today launches a Rp1.49 trillion fifth rights issue with preemptive by issuing 1.19 billion new B shares at Rp1,250 per share in January 2011.
In the rights issue prospectus published today, each holder of 20 existing CIMB Niaga shares will have one right to buy one new share.
The bank's controlling shareholder namely CIMB Group Sdn Bhd is committed to exercise its rights during the rights issue.
CIMB Niaga will use all the proceed to underpin credit expansion in a bid to develop business and strengthen long term capital structure.
Disclosure: No position at the stock mentioned above.
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