Minister for SOEs Pray For Rights Issue BNI Not There 'noise'

Jakarta - Minister of SOEs Mustafa Abubakar really hope the implementation of new share issuance of new shares with preemptive rights (ER) alias rights issue by PT Bank Negara Indonesia Tbk (BNI) will run smoothly and no noise such as Krakatau Steel (KS).

"Rights Issue BNI later we see the beginning until November 22, interest in what was reported to us quite enthusiastic, still qualitative, not quantitative. No fuss KS problem, does not seem to be, hopefully we pray so," said SOE Minister Mustafa Abubakar in Wanabakti Mangala Auditorium, Jalan Gatot Subroto, Jakarta, Thursday (11/18/2010).

Mustafa said that, until now the government as a majority shareholder in BNI has not determined the final price of the stock rights offering.

"We await the report first. So the matter of timing (time) and pricing (prices) will be discussed together," said Mustafa.

Based on the prospectus, BNI decide rights issue price range of USD 2300-3700 per share, from 7.5 to 42.5% discount from regular prices in the market today. BNI will release 3,374,716,060 new shares with a nominal value of Rp 375 per share.

Implementation of the rights issue price fixed at USD 2300-3700 per share. Prices are between 7.5 to 42.5% discount from current market price of Rp 4,000 per share.

Total funding will be obtained through the rights issue the company is between Rp 7.761 trillion to $ 12.486 trillion.

The fund will be used for corporate lending, SMEs, and consumption by 80%, then to the development of technology infrastructure 15%, while the remaining 5% for child development efforts

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