JAKARTA: PT Bank OCBC NISP Tbk will potentially pocket funds amounting IDR1.5 trillion from the issuance of 1.5 billion units or 17.6% new shares in a rights issue in the last quarter of 2012.
The bank set the exercise price at IDR1,000 a share.
The announcement of rights issue was published in information disclosure on the newspaper today, May 16, 2012.
The exercise price is discounted from the market price of the company in this afternoon which was still at IDR1,460, or down 10 points from the last position of IDR1,470.
Every the shareholders of OCBC NISP who have 500 entitled to 107 new shares.
NISP (coded stock) predicts if public investors do not execute pre-emptive rights, then the portion of its holdings will be diluted from 14.94% to 12.31%.
Dilution caused by stock ownership portion of the company's main shareholder, OCBC Overseas, Investment Pte Ltd which intends to execute every new shares that are not absorbed by other shareholders.
The company led by Parwati Surjaudjaja predicts the date of the distribution of pre-emptive rights can be distributed to investors on June 4, while the bookbuilding of pre-emptive rights will be on June 5, and the trading will be on June 5 to June 11. (t03/msw)