JAKARTA (Yosefardi) – PT Bank Panin Syariah, subsidiary of PT Bank Pan Indonesia Tbk, plans to raise fund of Rp500 billion from the initial public offering (IPO) scheduled to launch by early next year.
This new fund will boost the bank’s capital to Rp1 trillion, enters into BUKU 2 category for banks ruled by the central bank, Bank Indonesia.
The bank will offer 5 billion shares through IPO, representing 40% of its total issued and paid-up capital. PT Evergreen Capital will act as underwriter for the IPO.
As of September, 2013, the bank’s assets totaled Rp3.2 trillion with CAR of 19.75%. It booked net profit of Rp31.73 billion in the period.