BNI plans rights shares

Sat, 16 Jan 1999, 00:00 WIB | Source: JP

JAKARTA (JP): State-owned, publicly-listed Bank Negara
Indonesia plans to issue rights shares in March to improve its
capital structure.

BNI president Widigdo Sukarman said the size of the issue was
currently being discussed with the Ministry of Finance and the
central bank, Bank Indonesia.

The bank currently has a capital adequacy ratio (CAR) of below
minus 25 percent, making it ineligible to join the government's
recapitalization program. Thus, the rights issue is expected to
bring in fresh funds to boost its CAR to at least minus 25
percent. (02)

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