JAKARTA (Yosefardi) – PT Bank ICB Bumiputera Tbk targets to raise Rp489.62 billion through issuing new shares or rights issue program.
The bank plans to issue 8.04 billion new shares, representing 59.5% of its enlarged capital. The exercise price is set at Rp100 per unit.
Bank ICB also, along with rights issue, plans to issue 1.91 billion warrants, priced at Rp150 per unit, to raise total proceeds of Rp287.37 billion.
The proceeds of rights issue and warrants will be used to strengthen its capital structure.
With this new fund, the bank almost reaches BUKU 2 category with core capital of Rp1-5 trillion range. This rights issue will also help boost the bank’s CAR to 13.6% from current 12.5%.
Majority shareholder, ICB Financial Group Holdings AG are now offering to sell 30% shares of ICB Bumiputera to PT MNC Capital, awaiting approval of Bank Indonesia.