JAKARTA. The rights issue held by PT Bank Tabungan Negara (Persero) Tbk (BBTN) had been welcomed enthusiastically by investors, as indicated through 1.6 times oversubscription.

“We are deeply grateful that Bank BTN’s rights issue went smoothly. The demands were also massive,” Haru Koesmahargyo, President Director of BBTN.

With this high level of enthusiasm, Koesmahargyo promises that BBTN will continue to foster the trust of investors. One of the strategies is to maintain the performance so that it could continuously grow. “We will increase the capacity of housing credit distribution from 800 thousand units in 5 years to 1.32 million units,” he said.

As mentioned in IDNFinancials before, BBTN is issuing 3.44 billion units of new shares in this rights issue. The number of shares are equal to 24.54% of the entire issued and paid-up capital.

Exercising the level price of IDR 1,200 per share, BBTN is estimated to collect IDR 4.13 trillion at the end of this corporate action. (KR/ZH)