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Bank QNB Indonesia to conduct rights issue

PT Bank QNB Indonesia Tbk said March 2 that it is seeking shareholder approval to issue rights shares to strengthen its capital structure.

The bank said it will issue 3,786,010,377 ordinary shares at an offering price of 250 Indonesian rupiah per share. Shareholders who hold 10,000 shares of the company will be entitled to 2.228 rights where every 1 right has the right to purchase 1 new share at 250 rupiah per share.

Proceeds will be used to improve the productive assets of the company in the form of lending.

As of March 2, US$1 was equivalent to 13,784 Indonesian rupiah.