Bank Bali to issue warrants<\/p>\n
JAKARTA (JP): The publicly listed Bank Bali plans to issue
\nwarrants as the "sweetener" for its rights shares soon to be
\noffered to existing shareholders, a bank executive says.<\/p>\n
Muliadi Hendri, the vice president of Bank Bali, said the
\nplanned rights shares and warrants would be issued to strengthen
\nthe bank's capital structure.<\/p>\n
"The issuance of the rights shares is theoretically designed
\nto meet the present need for capital and the warrants are to meet
\nfuture capital needs," he told journalists on Thursday night.<\/p>\n
Dian Wirjawan, an executive of PT Kapita Sekurindo, a company
\nwhich will manage and underwrite the issuance of the rights
\nshares and warrants, said that the prices of rights shares and
\nwarrants were being formulated.<\/p>\n
The issuance of the warrants, which will become the first
\nwarrant instrument to be listed on the Indonesian capital market,
\nhas not yet been registered with the Capital Market Supervisory
\nAgency (Bapepam), he said.<\/p>\n
"We hope there will be no obstacles impeding the issuance of
\nthe warrants," responded Dian, when he was asked if Bapepam had
\napproved the bank's warrant offering.<\/p>\n
PT Modernland Realty, a real estate developer listed on the
\nJakarta and Surabaya stock exchanges, planned late last year to
\nissue detachable warrants to sweeten its mandatory convertible
\nbonds.<\/p>\n
The plan to issue warrants was, however, canceled due to the
\nlack of support from Bapepam, which considered the issuance to be
\ntoo speculative for the investing public. (hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bank-bali-to-issue-warrants-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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