JAKARTA – PT Bank Tabungan Negara (Persero) Tbk (BBTN) arranges a rights issue, offering 4.6 billion series B shares of IDR 500 each.
In a short prospectus quoted Monday (12/9), it is revealed that this plan shall obtain approval from the shareholders in the Extraordinary General Shareholders Meeting scheduled for October 18, 2022. Then, the corporate action will take place no later than 12 months after said approval is secured.
BTN will utilise the rights issue proceeds to enhance its capacity to channel Housing Ownership Credit in order to promote the National Housing Programme.
The shareholders who refuse to exercise their rights in this corporate action will have their stock diluted by 30.28%. Until August 2022, BTN’s shares reportedly reached 10.59 billion, 60% of which is still controlled by the government, and the public has another 40%. (LK/ZH)