Bank issues rights shares<\/p>\n
JAKARTA (JP): Bank Bali, a publicly listed private bank, is to
\nissue 65 million rights shares at Rp 2,000 each, 37 million
\ndetachable warrants with an exercise price of Rp 2,900 and bonds
\nworth Rp 250 billion, the bank's president said.<\/p>\n
Rudy Ramli told an extraordinary meeting of the bank's
\nshareholders yesterday that the schedule for the offering of the
\nrights shares and warrants will be set at July 17 to Aug. 23,
\nwhile the bonds will be floated in the middle of 1996.<\/p>\n
The issuance of rights shares, warrants and bonds is aimed at
\nstrengthening the bank's capital structure and its capability to
\nprovide consumer loans, he said.<\/p>\n
However, Rudy said that Bank Bali, which is strong in credit
\ncard, residential mortgage, and home equity financing, will
\nrefrain from providing more loans due to a prudent management
\ndecision.<\/p>\n
Bank Indonesia Governor J. Soedradjad Djiwandono has warned
\nbanks to slow down the growth of their lending for the property
\nbusiness to prevent another economic overheating.<\/p>\n
Rudy said yesterday that Bank Bali will distribute final cash
\ndividends of Rp 125 per share, in addition to its interim
\ndividends of Rp 100 a share.<\/p>\n
He said the bank, which has Hendra Firmansjah and Agam P.
\nNapitupulu as new directors, recorded a 17.4 percent increase in
\nits net profit from Rp 64 billion in 1993 to Rp 75 billion in
\n1994.(kod)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bank-issues-rights-shares-1447893297",
"image": ""
},
"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
}