Jan 24, 2011

Bank Bukopin sets rights issue at Rp520

PT Bank Bukopin Tbk (BBKP) has set the final price of rights issue at Rp520 per share, enabling the bank to grab Rp1.07 trillion cash.
In the rights issue prospectus published today, Bank Bukopin plans to issue 2.05 billion new shares of B series or equals 25% of its enlarged capital.
Each holder of three existing stocks obtains one preemptive rights to buy one new shares. According to the prospectus, about 62% of the rights issue will be used by Bank Bukopin to develop small, medium-scale enterprises, commercial business (28%), and consumer of 10%. 

Disclosure: No position at the stock mentioned above.

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