PDFCI offers rights shares

PDFCI offers rights shares

JAKARTA (JP): PT Bank Private Development Finance Company of
Indonesia (Bank PDFCI) will offer 31.25 million rights shares to
its shareholders from Oct. 21 to 24 to raise funds for its
expansion programs.

"We expect to collect some Rp 60 billion in fresh funds from
the rights issue," PDFCI's president, Bistok Hutasoit, told
reporters on Monday after a presentation for securities brokers
and analysts.

Hutasoit said 95 percent of the proceedings will be used to
increase the company's working capital, while the remaining five
percent will go toward financing the development of human
resources.

He said holders of two old shares will be entitled to buy one
new share.

PDFCI is owned by Bank Indonesia, AJB Bumiputera 1912, PT Pan
Indonesian Bank Ltd., the Nippon Credit Bank Ltd of Japan,
Deutsche Investitions und Entwicklungs-gessellschaft mbH of
Germany, the International Finance Corporation, an affiliate of
the World Bank, and the investing public. (fhp)