Mayapada offered rights issue price IDR780

PT Bank Mayapada Internasional Tbk offered 515.31 million new shares at IDR780 per share in a preemptive rights. The bank mentioned each of old five shareholders are entitled to one preemptive rights issue.

Relying on Wingfield Global Trading Pte Ltd as the offtaker, Bank Mayapada is optimistic to obtain fund as much as IDR401.94 billion from the rights issue, although not all shareholders will exercise its rights to purchase the new issued shares.

Currently, Wingfield has 197.9 million B series of Bank Mayapada shares or equal to 7.68%. With the issuance of new shares, the ownership of the shareholders at the Bank Mayapada will be potentially diluted by 16.7%. Meanwhile, as of the end of April 2010, the company recorded a net interest income of IDR165.55 billion and net income of IDR43.7 billion.

The bank with SME as the market segment here is currently owned by the Tahir Family with 65 percent shares ownership, Dubai Ventures 7.68 percent, Avenue Luxemburg 23.03 percent, UBS 3.83 percent, and public the rest.
Mayapada is business group on banking sector, retailer (duty free shop), property, health, coal, and other sectors.