JAKARTA (Yosefardi) – HSBC Asia Paficic Holdings (UK) Limited will launch the tender offer for 1.7 million shares of PT Bank Ekonomi Raharja Tbk (BAEK), priced at Rp10,000 per share or Rp17.18 billion in total.
The tender offer is scheduled for July 2, 2015 to August 4, 2015. BAEK has opted to go private or de-list its shares, now only 0.06% held by public investors, from the Indonesia Stock Exchange (IDX).
BAEK booked net profit of Rp19.87 billion in first quarter of 2015 on operating income of Rp659 billion. The bank’s assets reached Rp30.75 trillion while liability amounted Rp27.69 trillion.