JAKARTA (Yosefardi) – PT Bank Windu Kentjana International Tbk (MCOR) targets to raise Rp402 billion through issuing new rights (rights issue) and warrants.
The bank expects to raise Rp228.42 billion from rights issue and Rp173.50 billion from warrants issue.
It plans to issue 1.83 billion shares with exercise price set at Rp125, and to issue 913.67 million warrants at price of Rp190 per unit. Each 38 new shares will get 19 warrants. PT Blue Cross Indonesia will act as standby buyer for the rights issue.
The proceeds will be used to strengthen the bank’s capital structure and boosting its capital adequacy ratio (CAR). The listing of new shares is scheduled for December 3-9, 2013. The exercise of warrants is scheduled for June 12, 2014 until December 2, 2016.