Texas Pacific Group, owner 71.6% shares PT Bank Tabungan Pensiunan Nasional Tbk may reduce ownership to increase public share
BTPN has gained an extra capital of IDR1.32 trillion from the rights issue. CEO BTPN Jerry Ng stated that the extra fund brought an increase in capital from currently IDR2.7 trillion to IDR4 trillion.
The company is also processing the issuance of bond worth IDR750 billion-IDR1.25 trillion with Danareksa Sekuritas, CIMB Securities Indonesia and Indo Premier Securities serving as the underwriters.
On the first right issue, BTPN will release 188.79 million shares at the price of IDR7,000 per share, so the bank might collect IDR1.32 trillion fresh fund on December 21.
The company will use the cash from the rights issue to strengthen capitalization and credit expansion to boost growth.
BTPN's net income as per January-September rose 117% to IDR577.5 billion from IDR266.2 billion last year. Also, third party fund jumped 47% to IDR24.5 trillion from IDR16.6 trillion at the same period last year. The bank's total assets until September surged 60% to IDR30.8 trillion from IDR19.3 trillion in 2009.
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