JAKARTA. PT Bank BTPN Tbk (BTPN), one of financial institutions under Sumitomo Mitsui Banking Corporation, plans to raise capital through preemptive rights (PMTHMETD II), also known as rights issue. 

The management mentioned that the number of shares offered by the company in this corporate action is IDR 3.09 billion shares. Each share has a face value of IDR 20 per share. 

The suggested offering price has not been announced by the management of BTPN. However, next Thursday (7/12), the company will ask for approval from Extraordinary General Meeting of Shareholders regarding this rights issue plan.

“PMHMETD II is projected to take place and conclude by Q1 2024," the management of BTPN mentioned in the information disclosure in Indonesia Stock Exchange (IDX).

In the future, the proceeds gained by BTPN from this rights issue will be utilised to fund upcoming projects of the company. This is believed to be able to support the company's growth inorganically, through another acquisition. 

According to IDNFinancials data, BTPN's stock price during yesterday's closing (6/12) was seen weakening 40 points or 1.49% lower to IDR 2,640. Meanwhile, within the past year, the stock price shifted 20 points up or 0.76% higher. (KR/ZH)