GIC Pte. Ltd. committed to obtain 9.67% ARTO shares from rights issue
JAKARTA - Singapore Government-owned investment fund, GIC Private Limited (Government of Singapore Investment Corporation Private Limited), has stated its commitment to buy 1.3 billion shares from rights issue proceeds, or around 9.67%, of PT Bank Jago Tbk (ARTO).
Deputy Director of Bank Jago, Arief Harris, revealed that since December 2020, the company had started talking to many potential investors who expressed interest in owning Bank Jago shares. "The biggest interest is GIC. They expressed [their] interest and commitment," said Harris in a media briefing, Friday (26/2/2010).
During the Extraordinary GMS held in September 2020, ARTO agreed to conduct a rights issue of 3 billion shares with an exercise price of IDR 2,350 per share. The company will raise IDR 7.05 trillion in fresh funds from the rights issue, while simultaneously promoting ARTO's rating to BUKU 3 category. (AM/AC)