Shareholders approve BDNI rights share issue<\/p>\n
JAKARTA (JP): The extraordinary shareholders meeting of
\npublicly listed Bank Dagang Nasional Indonesia (BDNI) approved
\nyesterday management's plan to issue rights shares to strengthen
\nthe bank's capital structure.<\/p>\n
BDNI president Sjamsul Nursalim said his bank expected to
\nraise around Rp 615 billion (US$260.5 million) from the issue of
\nrights shares.<\/p>\n
\"The rights shares would be sold to existing shareholders for
\nRp 1,450 each,\" he said, adding that each four old shares would
\nentitle shareholders to buy three new ones.<\/p>\n
The bank will also issue warrants as a sweetener for the
\nrights issue.<\/p>\n
Funds raised from the rights issue would be used to strengthen
\nthe bank's paid-up capital and expand its domestic and overseas
\nnetworks, he said.<\/p>\n
\"We will, for example, upgrade the status of its
\nrepresentative in Beijing to a branch office,\" he said.<\/p>\n
He said that around 50 percent of the proceeds from the
\nlimited public offering would be used to finance the bank's
\nshort-term loans, 30 percent for long-term loans, 10 percent for
\nits network operations and 10 percent to improve its operations.<\/p>\n
Sjamsul said the bank planned to install 40 more automated
\nteller machines and set up 25 more branches across the country.<\/p>\n
He said the extraordinary shareholders meeting also agreed to
\nto split the nominal share value from Rp 1,000 to Rp 500.<\/p>\n
\"The aim of the split is to make the stock much more liquid on
\nthe stock exchange,\" he said.<\/p>\n
The shareholders meeting yesterday approved the appointment of
\ntwo new commissioners -- A. Kamardy Arief, a former president of
\nBank Rakyat Indonesia, and Suyitno Siswowidagdo, a former
\ndirector of Bank Indonesia -- and Oktariadi Anis as a new
\ndirector.<\/p>\n
The meeting also approved Soetrisno's resignation from his
\nposition of commissioner.<\/p>\n
The board of directors now comprises Sjamsul as president,
\nR.M.T Harinadji, Husni Ali, Tetty Gozali, Victor Kullit, Fredie,
\nMichael Soetanta and Oktariadi Anis as directors. (09)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/shareholders-approve-bdni-rights-share-issue-1447893297",
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"sponsor_url": "https:\/\/okusiassociates.com"
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