Indonesia's state-controlled lender BRI raises $6.73b in rights issue

Indonesia's state-controlled lender BRI raises $6.73b in rights issue

Photo by Bank Rakyat Indonesia

State-controlled lender PT Bank Rakyat Indonesia (BRI) raised 96 trillion rupiah ($6.73 billion) from a rights issue this month, the biggest transaction of this type in Southeast Asia, according to the Indonesia Stock Exchange chief Inarno Djajadi.

The rights issue is part of the government’s plan to create a holding company for “ultra micro” state financing firms with BRI at the helm.

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