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HSBC completes tender offer for Ekonomi
JAKARTA: HSBC Holdings has completed a mandatory tender offer for the acquisition of Indonesia's PT Bank Ekonomi Raharja by purchasing an additional 10
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AKARTA: HSBC Holdings has completed a mandatory tender offer for the acquisition of Indonesia's PT Bank Ekonomi Raharja by purchasing an additional 10.08 percent stake in the bank.
HSBC said Wednesday that it had bought 269.01 million shares of the publicly-owned Indonesian bank for Rp 715 billion (US$72 million). They now have a 98.96 percent ownership stake in the bank.
"The acquisition almost doubled HSBC's presence to 208 outlets in 26 cities in the world's fourth most populous country," HSBC said in the statement.
