Indonesia’s oldest Islamic bank ‘optimistic’ about raising new capital through rights issue, sukuk on Jul 18
JAKARTA - Bank Muamalat Indonesia is optimistic it can raise additional capital through a rights issue and sukuk on July 18 as the country’s oldest Islamic lender continues to face challenges expanding its business, Achmad Kusna Permana, its CEO told Salaam Gateway.
Bank Muamalat shareholders agreed at its last annual general meeting on June 28 to conduct a rights issue to raise additional authorized share capital from 8 trillion Indonesian rupiah ($557.8 million) to 11 trillion rupiah. The company will issue new series B shares of as much as 80 billion units.
“Currently we have paid-up capital of 1.1 trillion rupiah and unpaid-up capital of 1.89 trillion rupiah. We have around 18.96 billion series B unit shares that have not been issued yet,” said Permana.
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