BUN to raise capital

JAKARTA (JP): Shareholders of the publicly-listed Bank Umum Nasional (BUN) agreed in an extra-ordinary meeting to increase the bank's authorized capital to Rp 750 billion (US$340.9 million) from Rp 300 billion at present.

The bank stated yesterday that the rise in the authorized capital was made in line with its plan to issue rights shares in the next few months.

In a general meeting held before the extra-ordinary meeting, shareholders also approved the management's proposal to pay a cash dividend of Rp 299 (13.59 U.S. cents) per share for the 1994 operations.(hen)