Bank Bira offers 20 million shares to the public<\/p>\n
JAKARTA (JP): Bank Bira, one of Indonesia's oldest private
\nbanks, will offer 25 percent of its enlarged 80 million shares to
\nthe public in early July.<\/p>\n
The bank's president, Frans Limas, said in a presentation for
\nsecurities analysts and brokers yesterday that the bank's 20
\nmillion new shares, each with a nominal value of Rp 1,000, will
\nbe sold at about Rp 2,300 to Rp 2,500 each.<\/p>\n
He said the bank is still waiting for approval from the
\nCapital Market Supervisory Agency (Bapepam) on sales of the
\nshares and their listing on the Jakarta and Surabaya stock
\nexchanges.<\/p>\n
The bank expects to generate around Rp 50 billion from the
\nshare issuance, all of which will be used to increase its
\nproductive assets, he said.<\/p>\n
Limas said Bank Bira, which has 29 branches, held total assets
\nof Rp 639.5 billion as of May. Its operating profit quadrupled to
\nRp 8.2 billion in 1993\/94 from Rp 2.05 billion in the previous
\nyear.<\/p>\n
He refused to specify the bank's after-tax profit.<\/p>\n
Bank Bira is 76 percent owned by PT Arya Teladan Sakti, 22
\npercent by PT Aman Lintas Ladangartha and two percent by Lukman
\nIskandar, a commissioner of the bank. (09)<\/p>",
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