Mar 6, 2012

BJBR explores 15% rights issue

PT Bank Pembangunan Daerah Jawa Barat & Banten Tbk (BJBR) is considering a 15% new shares issuance next year.
Retail Director Ari Yulianto, as quoted by Bisnis Indonesia today, said the rights issue is aimed to underpin its credit expansion program.
According to him, BJBR will realize the rights issue if the credit expansion growth reaches 30% to Rp35 trillion this year from Rp27 trillion last year.
However, he said the bank can not disclose more detail about the rights issue. The bank has already secured an approval from local government to issue new shares of 15%. BJBR has set a 22%-25% growth in credit expansion this year

Disclosure: No position at the stock mentioned above.

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