<article>Indonesian private lender <a style="color: #000080;" href="http://www.bankmaspion.co.id/" target="_blank">PT Bank Maspion Indonesia Tbk (BMAS)</a> is looking to raise Rp 204 billion ($15.5 million) from a rights issue. The bank will offer 600 million new shares or 15 per cent of the enlarged capital at Rp 340 apiece.</article>

Indonesian private lender <a style="color: #000080;" href="http://www.bankmaspion.co.id/" target="_blank">PT Bank Maspion Indonesia Tbk (BMAS)</a> is looking to raise Rp 204 billion ($15.5 million) from a rights issue. The bank will offer 600 million new shares or 15 per cent of the enlarged capital at Rp 340 apiece.
The funds will be used to support the bank’s credit expansion, according to an official statement.
For every 64 old shares owned by a shareholder,10 rights will be granted. Each rights issue will allow its holder to buy one BMAS new share.
“PT Alim Investindo will be the standby buyer in this corporate action. The company hopes to get an effective statement from the <a style="color: #000080;" href="http://www.ojk.go.id/en/" target="_blank">Financial Services Authority (OJK)</a> by August 23, 2016,” said Bank Maspion management.
Bank Maspion tripled its profit to Rp 26.74 billion in May 2016 from Rp 7.3 billion in the same period the year before. The jump was supported by net income growth, which saw an increase of 15.1 per cent to Rp 223.4 billion from Rp194 billion in May 2015.
The latest data also revealed the bank’s disbursed credit at Rp4 trillion. About 68 per cent of the number was working capital loan, around 25.5 per cent was investment, and 6.65 per cent was consumption loan.
Meanwhile, third party fund (DPK) stood at Rp4.4 trillion.The bank’s assets per May 2016 was reported at Rp 5.4 trillion, with an equity of Rp878.7 billion.
The lender was established in Surabaya in 1989. It started its operation as a commercial bank in August 1990 before holding the title of Foreign Exchange Bank on July 28, 1995.
As it evolved into a larger lender, Bank Maspion then held its initial public offering (IPO) in 2013. It offered 770,000 ordinary shares to the public with a nominal value of Rp.100,- per share, and listed its shares on the Indonesia Stock Exchange on July 11 that year.
Bank Maspion has more than 700 employees and 51 office network.
Bank Maspion has delivery channels in the form of two mobile cash, five CDMs and 54 ATMs. It has access to more than 90,000 ATMs and 394,000 EDC at Prima network, as well as electronic channel called Maspion Electronic Banking which consists of internet banking and mobile banking.
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Indonesian private lender PT Bank Maspion Indonesia Tbk (BMAS) is looking to raise Rp 204 billion ($15.5 million) from a rights issue.

Indonesian lender Bank Maspion to raise $15.5m via rights issue

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Indonesian lender Bank Maspion to raise $15.5m via rights issue

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