Indonesia’s Biggest Lender Considers $1 Billion Rights Issue, Sources Say
- Bank Rakyat is working with advisers on potential cash call
- Deal could take place as soon as first half of this year
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PT Bank Rakyat Indonesia, the country’s largest lender by assets, is exploring a plan to raise at least $1 billion through a rights issue, according to people with knowledge of the matter.
The state-owned bank is working with advisers on the potential fundraising, which could take place as soon as the first half of this year, said one of the people, who asked not to be identified as the information is private. The lender plans to strengthen its capital base to prepare for potential acquisitions with the proceeds, the people said.