PT Bank Internasional Indonesia (BII) Tbk has named PT Bahana Securities, PT Mandiri Sekuritas, and PT Indo Premier Securities to underwrite its bond worth IDR1 trillion.
The bank was also studying plans to issue sub-debt. If the plan is realized, BII will issue sub-debt and senior bond. The bonds will be issued next year.
At the moment, the shareholders of BII are Sorak Financial Holdings Pte Ltd (54.33%), Maybank Offshore Corporate Services (Labuan) Sdn Bhd (43.08%), and the public (2.59%). Malaysian Bank Bhd asks for time extension to dispose or refloat of its shares in BII after on Friday last week the Capital Market and Financial Institution Supervisory Agency (Bapepam-LK) said it had given a six-month additional time to June 1, 2011 to the Malaysian bank.
Maybank makes its request for time extension if the process of disposing of shares to public investors leads to a loss of more than 10%. After acquiring BII in 2008, Maybank is required to increase its public shares ownership.
The Bapepam-LK regulation reads that one party acquiring more than 80% shares of a publicly listed has to dispose of 20% shares minimum to at least 300 parties within no more than two years after the share acquisition.
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