J Trust Places Rp300bn in Bank Mutiara
18 December 2014 03:52 WIB
TEMPO.CO, Jakarta - Japanese investment company, J Trust Co. Ltd., will place Rp300 billion capital in PT Bank Mutiara Tbk through private placement (non HMETD). Corporate secretary Hartono Karyatin said the move is aimed at strengthening the company's capital structure to develop its businesses.
"The company plans to issue new shares through a private placement," Hartono said in a written statement to the Indonesia Stock Exchange yesterday.
Through the issuance, J Trust's stake in Bank Mutiara will increase from 99.00 percent to 99.036 percent. Meanwhile, the Deposit Insurance Agency's (LPS) stake will be diluted from 0.996 percent to 0.961 percent.
The company plans to issue 30 billion new shares for an exercise price of Rp0.01 per share, targeting a proceeds of Rp300 billion. The entire proceeds will be placed into the company's cash and cash equivalents, raising the bank's cash value to Rp611.5 billion.
On November 20, Bank Mutiara's shareholders meeting approved the handover of 99 percent stake from LPS to J Trust. The acquisition value of the bank formerly known as Bank Century was Rp 4.41 trillion.
ODELIA SINAGA | ABDUL MALIK