JAKARTA (Yosefardi) – Securities firm PT Reliance Securities Tbk (RELI) plans to boost its ownership in PT Bank Kesejahteraan Ekonomi to 40% from current 20%, Investor Daily reported this morning.
The company targets to complete the acquisition (of 20% shares) in the third quarter of 2015. RELI earlier acquired 20% shares of Bank Kesejahteraan for Rp60 billion.
Other shareholders of the bank are holding of public servants cooperatives Induk Koperasi Pegawai Republik (IKPRI), PT Recapital Advisors, and PT Taspen.
RELI also plans to issue 900 million new shares, representing 50% of its enlarged shares capital, priced at Rp445 per share, to raise total proceeds of Rp400.5 billion. It booked net profit of Rp11.58 billion in 2014 on revenue of Rp68.7 billion.