Bank Bumi Arta goes for a rights issue
JAKARTA – PT Bank Bumi Arta Tbk (BNBA) will issue 1,368 thousand new shares in a rights issue in order to seek extra funds for the working capital. The number of shares to be issued will be equivalent to 50% of the current entire issued and paid-up capital of the company.
Lyvinia Sari, Corporate Secretary of Bank Bumi Arta, claimed that said corporate action is planned with an intention to meet the minimum core capital requirement of IDR 3 trillion, as stated in the Financial Services Authority Regulation (POJK) No.12/2020. “In addition, it is to boost the working capital which lead to the technology development and more investment in the information technology,” she explained further.
This corporate action will take place no later than 12 months after approval is obtained during the Annual General Shareholders Meeting. The obligation to meet the minimum core capital by the end of this year refers to the POJK No.12/2020 concerning Consolidation of Conventional Banks. (LK/ZH)