Foreigners enter Bank NISP

Foreigners enter Bank NISP

JAKARTA (JP): The main shareholders of publicly listed Bank
NISP, PT Suryasono Sentosa and PT Udayawira Utama, have sold some
of their shares to foreign fund managers, Bank NISP announced
yesterday.

The company stated the bank's two founders had sold 8,125
million shares to 14 fund managers from the United States, Hong
Kong, Singapore and Europe.

The sale increased public ownership to 33 percent. The sale
also increased the number of institutional investors by 40
percent.

The bank split its shares and distributed bonus shares
recently to increase its liquidity. The stock split cut the
nominal share price from Rp 1,000 (US$0.43) to Rp 500.

Bank NISP, which had Rp 1.1 trillion worth of assets in
September, had a Rp 19.28 billion operational income for the
first nine months of this year. (bnt)