May 16, 2011

Bank Victoria sets Rp199 bio rights issue

A publicly listed bank, PT Bank Victoria International Tbk, today unveils its plan for a Rp199.45 billion rights issue at Rp100 per share to strengthen its working capital.
In a prospectus published today, the company said to issue 1.99 billion new shares at Rp100 per share. Each holder of 200 existing shares as per June 30, 2011 will entitle 85 new shares.
The company will seek shareholders' approval for the corporate action at the extraordinary meeting of shareholders scheduled on June 17, 2011.
Along with this issuance of new shares, Bank Victoria will issue 1.47 billion warrants at Rp100. Each of 85 preemptive rights will entitle 63 warrants.
Currently, PT Suryayudha Investindo owns 6.31% stake in Bank Victoria, followed by PT Nata Patindo (3.86%), PT Victoria Sekuritas 35.27%), Suzanna Tanojo (14.40%), Emirates Tarian Asset Management (9.05%) and public (31.11%).

Disclosure: No position at the stock mentioned above.

Print This Article

No comments: