JAKARTA. PT Bank CIMB Niaga Tbk (BNGA) will carry out a Capital Increase Without Preemptive Rights (PMTHMETD) or a private placement to increase the number of free float shares.

BNGA's management said that the corporate action would be carried out after the company obtained approval from the Extraordinary General Meeting of Shareholders (GMS) on October 9, 2023. This corporate battery is planned to be completed and effective before December 21, 2023.

"All funds obtained from PMTHMETD, after deducting transaction costs, will be used entirely by the company to finance the expansion of business activities," wrote BNGA Management, in an information disclosure on the Indonesia Stock Exchange (IDX).

So far, no investors will take part in the BNGA private placement.

According to idnfinancials.com data, currently 91.48% of BNGA's B series shares are controlled by CIMB Group Sdn Bhd Malaysia. Public investors own 7.44% of series B shares and 0.29% of series A shares. The remaining 0.79% are treasury shares. (KR/LM)