BNI plans stock split as share falls
BNI plans stock split as share falls
JAKARTA : PT Bank Negara Indonesia (BNI), the nation's second-biggest
bank by assets, said it plans a stock split that will reduce the
number of shares to 6.6 percent of its Rp 257.5 billion (US$30.2
million) outstanding shares.
The number of shares will be reduced to 17.2 billion after
the split, which will take effect on Dec. 29, the Jakarta-based
lender said in a statement published.
The lender needs to keep its share price above the minimum
required level of Rp 50 specified by the local stock exchange
or risk being delisted. BNI shares have fallen more than
a third to Rp 95 in the past month after the police started a
probe into a suspected loan fraud.
The government, which owns 97 percent of the lender, plans
to replace the bank's directors at a meeting with shareholders on
Dec. 15. -- Bloomberg
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Cyber-Access-mobile
Cyber Access to start services in RI
JP/14/brief
Cyber Access to start services in RI
BANGKOK : PT Cyber Access Communications, an Indonesian unit of
Thailand's Charoen Pokphand Group, will start mobile-phone
operations in Indonesia after winning last month a license to
provide high-speed services, the Nation said.
Cyber Access has to start the service in three years, the
report said, citing an unidentified company official close to the
situation.
The Indonesian mobile-phone venture will be Charoen Pokphand
Group's first overseas telecommunications investment since the
1997-98 Asian financial crisis, the report said.
The Charoen Pokphand Group, which owns TelecomAsia Pcl,
Bangkok's biggest fixed-line phone company, TA Orange Co.,
Thailand's third-largest mobile-phone company and Charoen
Pokphand Foods Pcl, Southeast Asia's third-biggest feed-mill
operator, is controlled by Dhanin Chearavanont, one of Thailand's
richest men. -- Bloomberg
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HongKong-Hutchison-bonds
Hutchison plans US$3b bond offering
JP/14/brief
Hutchison plans US$3b bond offering
HONG KONG: Hong Kong conglomerate Hutchison Whampoa Ltd. plans to
begin marketing a US$3 billion bond this week, a spokeswoman said
on Monday.
A spokeswoman for Hutchison, Nora Young, confirmed that
"several banks are arranging the issue of three billion dollars
worth of bonds" which will come in maturities of seven, 10 and 30
years.
Each tranche is expected to be worth at least US$750 million.
The Standard newspaper reported that the bond offering was to
help refinance existing debt for the firm, headed by Asia's
wealthiest tycoon Li Ka-shing, although Young did not confirm
this.
Young added that Citigroup, HSBC and Merill Lynch would be the
bookrunners for the issue, while Morgan Stanley would be handling
the 30-year tranche, JP Morgan the 10-year tranche and Deutsche
Bank the seven-year tranche.
The company will kick off roadshows Monday in Los Angeles and
London, and hold conference calls with investors in Asia and
Europe.
The roadshows will move to Boston and New York on Tuesday and
pricing of the deal is expected after the roadshows.
The ports-to-telecoms conglomerate has already sold $4.5
billion worth of bonds so far this year in four trips to the
market.
To calm investor fears about supply risks, the company has
pledged not to raise fresh U.S. dollar financing for six months
after the coming bond sale, The Standard reported. --AFP
Hutchison plans US$3b bond offering