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
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)