Bank Permata to raise Rp 2t from rights issue

JAKARTA: PT Bank Permata plans to issue right shares to raise about Rp 2 trillion fresh funds to further strengthen the bank’s capital structure.

The bank’s president David Fletcher said in a statement Sunday that through the rights issue, the bank would issue at a maximum of 1,290,520,987 new shares at the exercise price of Rp 1,549 per share with due observance of the Extraordinary General Meeting of Shareholders’ (EGMS) approval.

Each registered shareholder is entitled to purchase one shares for every six shares they hold, he said.

Bank Permata’s Tier 1 capital ratio and Capital Adequacy Ratio (CAR) reached 9.2 percent and 13.9 percent as at 30 June 2010, respectively, which are well above the minimum requirements set by Bank Indonesia. The rights issue will increase the Bank’s CAR by around 370 basis points. — JP