Servitia plans rights issue

JAKARTA (JP): Publicly listed Bank Servitia plans to offer 800 million new shares in a limited public offering next month to increase its capital.

The bank said in a statement that proceeds of the rights issue, expected to reach about Rp 400 billion (US$27.58 million) would increase the bank's capital to Rp 500 billion from Rp 100 billion currently.

It said that shareholders would be allowed to buy new shares at Rp 500 each for each share they already hold.

Bank Servitia, which suffered a more than 50 percent drop in its net profit last year to Rp 8.5 billion, is among 26 banks put under the supervision of Indonesian Banking Restructuring Agency in April. (aly)