Bank offers rights shares<\/p>\n
JAKARTA (JP): Bank Bali, a private commercial bank listed on
\nthe Jakarta Stock Exchange, announced yesterday that it will
\noffer more than 65 million rights shares and about 37 million
\nwarrants to its existing shareholders.<\/p>\n
"The amount of the rights shares to be issued is about 35
\npercent of the bank's total shares, while the warrants offered
\nwill account for about 14 percent," Rudy Ramli, the bank's
\npresident, told reporters at his office here.<\/p>\n
"We are aiming to generate funds to meet our capital
\nrequirements and to finance business expansions," Ramli said.<\/p>\n
The executive said that the rights shares would be offered to
\nexisting shareholders through the capital markets here and in
\nSurabaya, East Java, between July 17 and August 16.<\/p>\n
He said that for every 20 existing shares, investors would be
\neligible to purchase seven rights shares at Rp 2,000 (about 90
\nU.S. cents) apiece and four warrants.<\/p>\n
Each warrant, Ramli added, can be converted into one share
\nwith a nominal value of Rp 1,000 each at Rp 2,900 between Feb.
\n26, 1996 and Aug. 29, 2000.<\/p>\n
"The warrants will be traded on the Jakarta and Surabaya stock
\nexchanges from the day they are released until five working days
\nbefore they mature," he said.<\/p>\n
Bank Bali reported that, as of last December, its assets
\nreached Rp 4.98 trillion ($2.23 billion). It gained a net profit
\nof Rp 72.43 billion in 1994.<\/p>\n
The bank's annual report shows that its loan to deposit ratio
\nlast year reached 86.78 percent, while its capital adequacy ratio
\nwas 10.21 percent.(hdj)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bank-offers-rights-shares-1447893297",
"image": ""
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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