PT Bank CIMB Niaga Tbk, a unit of Malaysia CIMB Group plans to raise IDR2 trilion for expansion. The company plans to issues subordinated bonds to tap more than IDR1 trilion and also plan rights issue for raise IDR1 trilion.
The company plans the rights issue in Q4/2010 and CIMB Group will act as a stand by buyers. CIMB Group controlling 97.93% shares in CIMB Niaga.
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