Bukopin eyeing IDR1.14 trillion from rights issue

JAKARTA: PT Bank Bukopin Tbk (BBKP) today announces rights issue of 2.04 billion B series shares or 25% stake at IDR480-IDR560 per share, enabling it to snap up a maximum of IDR1.14 trillion proceed.

Each holder with three existing stocks have one right to buy one new share offered during such corporate action, a formal prospectus published today said.PT CIMB Securities Indonesia acts standby buyer for Bukopin's rights issue with committment to purchase the new shares at IDR480-IDR560 per share.Bank Bukopin will use the proceed from rights issue as working capital to develop financing business. (wiw)