Bank Bukopin to launch rights issue

JAKARTA (TheInsiderStories) – PT Bukopin Tbk plans to launch rights issue with maximum limit of 30 percent of the company’s total shares, or 2.725 billion unit shares out of total shares of 9.086 billion units shares. The planned rights issue have been approved by the bank’s sharehodlers at the company’s annual shareholders meeting (AGM) last Tuesday (May 9). The shareholders also agreed to distribute 30 percent of 2016 net profit as dividend and the remaining 70 percent is used as retained profit. Last year, the bank booked net profit of Rp1.086 trillion.

Currently, Bosowa Corporation holds 30 percent shares of Bank Bukpon shares. The remaining shares are owned by Korperindo 18.09 percent, the government 11.43 percent and public 40.46 percent. Bosowa said earlier it is interested to raise its stakes in the bank through rights issue scheme. (*)