JAKARTA: Private bank PT Bank Bukopin says it will sell a 30 percent stake in a rights issue next year to raise fresh cash to maintain its capital adequacy ratio (CAR).
“We expect the rights issue will be launched in the first quarter of 2011. The capital raised will maintain our CAR at 12 percent,” Bukopin president director Glen Glenardi said as quoted by kontan.co.id.
Bukopin hoped to secure from Rp 800 billion (US$ 89.6 million) to Rp 1 trillion from the rights issue, Glen said.
“We will open the opportunity for investors,” he said, adding that state pension company PT Jamsostek has agreed to purchase Bukopin shares. — JP
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