JAKARTA: Shareholders of mid-sized lender Bank Permata have approved the bank’s plan to release new shares in a rights issue aimed at raising Rp 2 trillion (US$224.1 million) in the third week of November, the company said in a statement Wednesday.
Permata will release 1.29 billion new shares, according to the statement. Shareholders will have pre-emptive rights to buy one new share at Rp 1,549 for every six shares currently held.
The price is a discount compared to Permata’s current share price of Rp 1,830 as of the close of trading on Wednesday.
“The bank’s majority shareholders, Astra International and Standard Chartered Bank, will fully subscribe to their entitlement under the rights issue and act as proportional standby buyers for the remaining shares that are not subscribed to by other shareholders in the rights issue,” Permata said. — JP
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