PT Bank Danamon Tbk (BDMN) has set the exercise price of preemptive rights issue at Rp4,300 per share, entitling the bank with a total proceed of Rp4.99 trillion.
Bank Danamon aims to hold the rights issue of 1.16 billion new shares with holder of 1,000 existing rights to entitle 138 rights to buy new shares. Each one rights will enable the holder to buy one new share. The Bank plans to seek approval from shareholders meeting scheduled on August 24 2011.
Citigroup Global Markets Singapore Pte Ltd and Deutsche Bank AG, Hong Kong are acting as standby buyers for the rights issue with commitment to buy a maximum of 189,60 million new shares at Rp4,300, equals to Rp815.28 billion. The dilution effect from the rights issue is 12.13%.
Disclosure: No position at the stock mentioned above.
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