JAKARTA - PT BPD Jawa Timur Tbk (BJTM) conduct a private placement by releasing 45,465,000 B-series stocks in the Management Employee Stock Option Plan (MESOP). The corporate action will be conducted in three phases from 1 February to 18 March 2019.
As quoted from the company's information disclosure, during the first phase of the MESOP, 1,062,100 shares will be offered with a price of Rp 450 per share. The amount of fund expected to be raised from the first phase is Rp 477 million.
In the second phase, the management will offer 3,953,900 shares with a price of Rp 409 per share. From this phase, Bank Jatim will collect Rp 1.61 billion. And, in the third phase, 40,449,000 shares will be offered with a price of Rp 599 per share. Estimate of the fund that will be fund collected from the third phase is Rp 24.22 billion.
The result of the private placement will be announced on 20 March 2019. This corporate action has been approved by shareholders on the General Meeting of Shareholders on 20 February 2018. (LK/AR)