BNI Holds Rights Issue Prior to Further Divestment
Tuesday, 13 February, 2007 | 16:31 WIB

TEMPO Interactive, Jakarta: PT Bank Negara Indonesia (BNI) will possibly increase its capital by holding a rights issue prior to continuing divestment of the government's shares.

According to Managing Director of BNI Sigit Pramono, the rights issue will be held by using data of the financial report of December 2006. Therefore, in May 2007 an extraordinary general meeting of shareholders will be set up to discuss the corporate act.

“It is targeted that the rights issue will be held in June 2007 at the latest,” said Sigit when being met after attending a meeting with the State-Owned Enterprises (SOEs) Commission of DPR yesterday (02/12) in Jakarta.

According to Sigit, the expected funds that can be obtained from the rights issue amount to Rp3-4 trillion. He also emphasized that by the certainty of the rights issue, the plan to issue subdebt bonds will be delayed until 2008. “We are still planning to issue debts, but perhaps next year,” he said.

In addition to SOEs Minister Sugiharto affirming that the government has not yet assured whether or not BNI will first hold a rights issue or divestment. “The best way will be taken for the sake of the government and the company's interests,' he said.

YULIAWATI | DESY PAKPAHAN