BRI plans 30% stake offering in 3Q<\/p>\n
JAKARTA : State-owned PT Bank Rakyat Indonesia, or BRI, plans to
\nsell a 30 percent stake via an initial public offering in the
\nthird quarter of the year, a bank executive said Monday.<\/p>\n
BRI's president director Rudjito told Dow Jones Newswires that
\nsome of the proceeds from the IPO will go to the state coffers
\nand it will use the remaining proceeds to strengthen its capital
\nbase.<\/p>\n
He declined to mention how much it expects to raise from the
\nIPO.<\/p>\n
He also said BRI's net profit is expected to rise to Rp 1.6
\ntrillion this year from Rp 1.5 trillion last year.<\/p>\n
The retail bank plans to channel Rp 8 trillion into new loans
\nthis year, he added.<\/p>\n
BRI also plans to issue between Rp 1 trillion and Rp 2
\ntrillion of subordinated bonds in the first half of the year to
\nimprove its capital base.<\/p>\n
BRI is one of several state-owned companies the government
\nplans to sell this year to raise Rp 8 trillion in funds, in a bid
\nto reduce the budget deficit. Other companies include PT Bank
\nMandiri, the country's largest bank, and pharmaceutical company
\nPT Indofarma. --Dow Jones<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/bri-plans-30-stake-offering-in-3q-1447893297",
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"sponsor": "Okusi Associates",
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