JAKARTA - PT Bank CIMB Niaga Tbk (BNGA) aims to raise IDR 16.11 billion of fresh funds through the issuance of 10.59 million series B shares, offered for IDR 1,520 per share.

In the information disclosure quoted Thursday (5/10), this corporate action plan will seek approval from Extraordinary General Meeting of Shareholders next week (9/10). The private placement is projected to take place by the end of this year, on December 21, 2023.

The proceeds of the private placement will be used to reinforce credit distribution to all business segments, including corporate, commerce, small and medium enterprises (SMEs), and consumer.

The percentage issued in this corporate action is 0.04% of the issued and paid-up capital of the company.

As of now, BNGA has total authorised capital of IDR 2.9 trillion, consisting of Class A of IDR 359.26 billion and Class B of IDR 2.54 trillion. The paid-up capital is IDR 1.61 trillion, consisting of Class A of IDR 359.26 billion and Class B of IDR 1.25 trillion. The remaining stock in portfolio is IDR 1.28 trillion, consisting of Class A of zero and Class B of IDR 1.28 trillion. (LK/ZH)