PT Bank Danamon Indonesia Tbk (BDMN) plans to hold a rights issue of 1.21 billion new shares at the exercise price range of Rp4,100-Rp4,800 per share, entitling the bank with the proceed of Rp4.97 trillion-Rp5.82 trillion.
The rights issue proceed is representing 10.39%-12.17% of Bank Danamon's current market capitalization. The bank will hold the 1,000-for-144 rights issue. Cum rights is scheduled on September 7-September 12 2011.
The bank will use the proceed to strengthen its capital. Asia Financial (Indonesia) Pte Ltd, as controlling shareholder, has committed to exercise its rights.
Citigroup Global Markets Singapore Pte Ltd and Deutsche Bank AG, Hong Kong are acting as the standby buyers for the rights issue.
Disclosure: No position at the stock mentioned above.
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