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Bank China issues Subordinate Securities worth US$ 50 million

26 February 2019 12:26 PM  Company: PT. Bank China Construction Bank Indonesia Tbk[MCOR]
Rp. 155  -5 (-3.12%)

JAKARTA -PT Bank China Construction Bank Indonesia Tbk (MCOR) issued Subordinate Securities valued at US$ 50 million. The subscriber of the Subordinate Securities is China Construction Bank Corporation (CCBC), the majority shareholder of the bank.

As cited from the company's disclosure of information, the bank will strengthen its capital structure to improve the bank's rank from BUKU II to BUKU III by the end of 2019. The notes are only offered to the CCBC. Through the addition of Tier-2 capital, the bank can expand its business.

Based on the company's financial statement, in the second semester of 2018, the bank has an authorised capital of Rp 2.6 trillion with paid-up and issued capital of Rp 1.66 trillion.  CCB (Asia) Trustee Company Limited acts as the custodian, agency, and payment agent. The CCB Trustee Company Limited is owned by the CCB (Asia) and is owned by CCBC. (LK/AR)

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PT. Bank China Construction Bank Indonesia Tbk [MCOR]   Rp. 155   -5 (-3.12%)