BTPN plans to raise up to $112mln in rights issue

PT Bank Tabungan Pensiunan Negara (BTPN), a mid-size Indonesian lender controlled by US private equity giant Texas Pacific Group [TPG.UL], aims to raise up to 1 trillion rupiah ($112 million) to strengthen its capital base and help the bank expand its loan growth business.

The bank aims to launch the plan by the end of the year to increase its capital adequacy ratio by 4 to 5 percent to 20 percent after the rights issue, Anika Faisal, a BTPN director.

The bank has appointed CIMB and Danareksa securities to handle the issue, Faisal added. ($1=8925 Rupiah). Source: Reuters

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