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Bank Yudha Bhakti will hold rights issue

11 May 2020 15:08

JAKARTA - PT Bank Yudha Bhakti Tbk (BBYB) will try to increase its capital through rights issue, targeting to raise Rp 396.1 billion of fresh funds.

The company explained in a brief prospectus released on Monday (11/5) that the corporate action will be done in order to realise the company's plan to move up to become a Commercial Bank Business Activities (BUKU) II bank and is expected to get an effective statement on 25 June 2020. Listing on the Indonesia Stock Exchange (IDX) is targeted to be done on 9 July 2020.

According to the plan, the company will issue as many as 1,320,381,878 shares with a nominal value of Rp 100 per share or equivalent to 17.65% of the company's issued and paid-up capital. (ARM/AR)

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