GIC to invest $222m in Gojek-backed Indonesian lender Bank Jago via rights issue

GIC to invest $222m in Gojek-backed Indonesian lender Bank Jago via rights issue

REUTERS/Beawiharta

Singapore’s sovereign wealth fund GIC Private Limited is the latest investor in Indonesia’s Bank Jago.

The fresh investment by GIC, worth Rp3.15 trillion ($222.48 million), will be made by absorbing 1.19 billion new shares of Bank Jago through a rights issue, according to a disclosure to the Indonesia Stock Exchange (IDX).

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