JAKARTA: Bank OCBC NISP Tbk will conduct rights issue to obtain IDR1.5 trillion (US$0.16 billion based on IDR9,268/US$) funds from public to strengthen its capital structure.
The company will carry out the bidding process on 5 – 11 June. “The shareholders meeting has recently approved the rights issue,” OCBC NISP Director Hartati said on Tuesday, May 22, 2012.
It offers 1.5 billion shares at price of IDR1,000 per share through the rights issue VI.
Each 500 shareholders are entitled for 107 pre-emptive rights. Thus, with 500:107 ratio, the shareholder will purchase 107 shares at price of IDR1,000 per share and fully paid at the time of submission of the stock purchase order.
The price offered is lower than the company’s stock price at closing session today, i.e. IDR1.420.
OCBC NISP is targeting capital adequacy ratio (CAR) of 17% at the end of June through the rights issue.
The bank with shares majority owned by OCBC Bank Singapore booked 16.1% CAR in first quarter 2012. It reached 16.6% in the same period a year earlier.
OCBC NISP owned total assets of IDR63.1 trillion in the first three months 2012 or 32% higher compared to IDR47.8 trillion in the same period last year. As for the company third party fund grew 34% to IDR49.6 trillion from IDR36.9 trillion.
The gross jumped 38% to IDR42.4 trillion from IDR30.8 trillion, while the net profit also rose significantly by 38%. (T06/aph)
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