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Jakarta Post

Japanese firm set to acquire 25 percent of BNI Securities

Jakarta   /   Thu, April 28 2011   /  08:00 am

SBI Securities, a unit of Japanese investment firm SBI Holdings, has agreed to acquire a 25 percent stake in PT BNI Securities for Rp 114 billion (US$16.70 million), parent company Bank Negara Indonesia (BNI) announced Wednesday.

BNI president director Gatot M. Suwondo said that the Japanese company would acquire the 25 percent stake in BNI Securities through the purchase of new shares to be issued by the securities company.

As the acquisition would be carried out through the purchase of new shares, the proceeds from the sales of the shares will be used to strengthen BNI Securities’ capital structure, he said, adding that the issuance of the new shares would consequently cause a dilution in BNI’s ownership from 100 percent to 75 percent.

BNI Securities will issue new shares totaling 25 percent of the enlarged equity. The proceeds will be used to boost BNI Securit...