Bank Arya plans to sell 98 million new shares<\/p>\n
JAKARTA (JP): Bank Arya plans to offer 98 million new shares
\nor 24.5 percent of its enlarged capital to raise fresh funds of
\nabout Rp 50 billion (US$20.57 million) from the public, an
\nexecutive said yesterday.<\/p>\n
"The bank is still waiting for approval from the Capital
\nMarket Supervisory Agency to list its shares, each with a par
\nvalue of Rp 500, on the Jakarta Stock Exchange," managing
\ndirector Benny Dwibyantoro said.<\/p>\n
"We hope the shares can be listed on the bourse in June," he
\nsaid.<\/p>\n
He said that about 20 percent of the proceeds from the share
\nissuance would be used to finance new offices, 10 percent for
\nhuman resource and technology development and 70 percent to
\nexpand the bank's lending capability.<\/p>\n
The bank, which has 14 offices in Indonesia, would open
\nanother six to ten branches in Pekanbaru, Bandung and Jakarta, he
\nsaid.<\/p>\n
The bank, formerly called Bank Pertiwi, was taken over in 1993
\nby the Ongko Group, which changed its name to PT Bank Arya
\nPanduarta or Bank Arya in 1994.<\/p>\n
Bank Arya's assets increased to Rp 1.1 trillion at the end of
\nlast year from Rp 928.97 billion at the end of 1995, said Benny.<\/p>\n
He said the bank's profit rose to Rp 8.83 billion last year
\nfrom Rp 4.86 billion in 1995.<\/p>\n
"We expect Rp 37 billion in profit this year, with our assets
\nincreasing to Rp 1.5 trillion by the end of the year," he said.
\n(13)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bank-arya-plans-to-sell-98-million-new-shares-1447893297",
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"sponsor": "Okusi Associates",
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