JAKARTA. PT Bank Maspion Tbk (BMAS) will issue an increase of capital with pre-emptive rights, also known as a rights issue, of 9.48 billion new shares.

The number of shares issued by BMAS is equal to 52.38% of its issued and paid-up capital post rights issue. Each share has a face value of IDR 100.

For every 100 shares of BMAS, the holder will be granted rights over 110 pre-emptive rights, in which each right will give the right for purchasing 1 new share for IDR 370. By setting up this price level, BMAS will potentially gain fresh funds of up to IDR 3.51 trillion at the end of this rights issue.

Kasikorn Vision Financial Company Pte. Ltd., the main shareholder of BMAS, will exercise all pre-emptive rights allocated to it. KBANK, as the owner of 5.15% of BMAS’s shares will also exercise its entire rights.

The rights issue of BMAS will take effect starting from October 20, 2023. The listing of these new shares on Indonesia Stock Exchange (IDX) is scheduled to take place on November 3, 2023. (KR/ZH)