Jakarta (Antara Bali) - State-owned Bank Tabungan Negara (BTN) is processing a plan to conduct a rights issue of its shares this year, its president director Iqbal Latanro said.
"In relation to the plan for rights issue we still have to take a number of corporate actions, including holding another coordination meeting with the State Enterprises Ministry," he said on the sidelines of a function marking the bank's 62nd anniversary here on Sunday.
The bank had yet to appoint financial adviser to conduct the rights issue, he said.
"Only after we have received the green light from the government will we ask for approval from the House of Representatives, after which we can discuss the technical matters," he said.
He said rights issue was part of the bank's strategic plan to increase the amount of credits channeled.
"We will use proceeds from the rights issue to strengthen capital in distributing credits. We predict the rights issue will take place early in the second quarter of 2012," he said.(IGT)
COPYRIGHT © ANTARA News Bali 2012
"In relation to the plan for rights issue we still have to take a number of corporate actions, including holding another coordination meeting with the State Enterprises Ministry," he said on the sidelines of a function marking the bank's 62nd anniversary here on Sunday.
The bank had yet to appoint financial adviser to conduct the rights issue, he said.
"Only after we have received the green light from the government will we ask for approval from the House of Representatives, after which we can discuss the technical matters," he said.
He said rights issue was part of the bank's strategic plan to increase the amount of credits channeled.
"We will use proceeds from the rights issue to strengthen capital in distributing credits. We predict the rights issue will take place early in the second quarter of 2012," he said.(IGT)
Editor : Masuki
COPYRIGHT © ANTARA News Bali 2012