TEMPO.CO, Jakarta - Islamic lender PT Bank Muamalat Indonesia Tbk is planning to issue new shares to support business growth in the future. Acting Director Purnomo B. Soetadi said that the decision was made after an extraordinary meeting of shareholders on September 20.
The bank will raise more capital not by selling the existing shares but through a right issue, he said in a written statement received by Tempo yesterday. The existing shareholders will be entitled to participate in the right issue, he added.
In the process, Bank Muamalat has signed a conditional agreement with PT Mina Padi Investama Sekuritas Tbk., the stand-by buyer. The process in build up to the right issue will be conducted according to the regulations.
As of now, Bank Muamalat Indonesia has 338 outlets across Indonesia. The company is owned by the Islamic Development Bank (IDB) with 32.7 percent ownership, Boubyan Bank (Kuwait) with 22 percent, Atwill Holdings Limited (Arab Saudi) with 17.9 percent, National Bank of Kuwait with 8.5 percent, as well as other entities and individuals.
