INDONESIA PRESS-MNC Kapital plans to raise 1.6 trln rph via rights issue-Kontan

Tue May 13, 2014 10:02pm EDT

Financing firm PT MNC Kapital Indonesia, a unit of MNC group, plans to raise up to 1.62 trillion rupiah ($140.42 million) via a rights issue.

It plans to issue 1.8 billion shares, or 56.9 percent of its enlarged capital, at a price of 900 rupiah per share.

The firm will spend 211 billion rupiah to buy a 24 percent stake in PT Bank ICB Bumiputera. The remaining 1.4 trillion rupiah will be used for short- and long-term investment.

The firm plans to enlarge its ownership in Bank Bumiputera to up to 40 percent and expects to get approval from the Financial Services Authority in October. (Kontan)

Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11536.5000 Indonesian Rupiahs) (Compiled by Jakarta Newsroom; Editing by Subhranshu Sahu)

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