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MNC Bank eyes Rp 1 trillion from rights issue and warrants
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MNC Bank president director Benny Purnomo talks to reporters after the company's extraordinary general shareholders meeting in Jakarta on July 15. (JP/Ivany Atina Arbi)
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rivate lender MNC Bank has sealed approval from its shareholders to launch its fifth rights issue and series III warrants to raise Rp 1 trillion (US$76.3 million) to strengthen its capital structure.
The publicly listed bank will sell about 5.3 billion shares to the existing shareholders at Rp 100 per share. Proceeds from the rights issue alone are expected to reach Rp 531 billion (US$40.6 million).
“We will also get around Rp 531 billion from the series III warrants. So, the total additional capital from the rights issue and warrants is about Rp 1 trillion. The funds will be used to strengthen capital structure,” MNC Bank president director Benny Purnomo said on Friday in Jakarta.
Each of the warrants, he further explained, would be offered at Rp 100 per unit, along with every share bought by the company’s shareholders in the rights issue.
“With the capital injection, we are upbeat that the company can target a wider market so that our income increases and financial performance improves,” Benny said. (vny/ags)
