JAKARTA (Yosefardi) – Bank Permata is likely to launch rights issue and subordinated bond (subdebt) to fund the acquisition of 25% shares in PT Astra Sedaya Finance (ASF), a consumer financing company, which values for Rp2.04 trillion.
Media earlier reported Permata, co-owned by Standard Chartered Bank and Astra International (ASII), subscribed 237.6 million shares issued by ASF.
After the transaction, Bank Permata holds 25% shares in ASF, while Astra International (ASII) controls the balance through PT Garda Era Sedaya and PT Sedaya Multi Investama.