JAKARTA. PT Bank CIMB Niaga Tbk (BNGA) plans to raise fresh funds of up to IDR 16.69 billion through its capital increase without pre-emptive rights, also known as private placement.

As informed by IDNFinancials before, BNGA will issue 10,599,000 new shares in this private placement. Each share is valued at IDR 50 each, and will be offered for IDR 1,575 each.

BNGA has obtained approval from the Extraordinary General Meeting of Shareholders on January 11, 2024. The issuance of shares is scheduled to take place on January 31, 2024.

After this private placement, BNGA’s shares will rise to 25.14 billion. Previously, the shares were recorded at 25.13 billion.

For the record, this corporate action is carried out by BNGA in order to meet the minimum free float level. This regulation calls for a minimum of 7.5% of the company’s shares owned by public investors. (KR/ZH)