Malayan Banking Berhad (“Maybank”) is pleased to announce that the rights issue exercise of its subsidiary, PT Bank Internasional Indonesia Tbk (“BII”) of 6,253,554,529 new ordinary shares of Rupiah (“Rp”) 22.5 each (“Rights Shares”) at an issue price of Rp225 which amounts to Rp1.407 trillion (“Rights Issue”) was completed on 21 April 2010. The subscription received for the Rights Issue, amounted to 6,279,215,402 Rights Shares totaling Rp1,412,823,465,450, which resulted in an over subscription of the Rights Shares. The relevant Rights Shares have been listed on Bursa Efek Indonesia on 27 April 2010. The share price of BII closed at Rp305 per share on 28 April 2010.
Maybank President and CEO, Dato’ Sri Abdul Wahid Omar said that the successful rights issue exercise signaled the confidence of shareholders in the future growth potential of BII in its core market segments
“It is a boost to the capital strengths of BII and with the solid support of the Maybank Group, we are confident that BII will continue to make significant strides in its business performance in the future,” he added.
Maybank (through its wholly-owned subsidiary Mayban Offshore Corporate Services (Labuan) Sdn. Bhd. and Sorak Financial Holdings Pte. Ltd.) subscribed for 97.52% of the entire Rights Issue which comprised its entitlement pursuant to the Rights Issue.
Due to the over-subscription of the Rights Shares, Maybank as a standby buyer did not have to exercise its obligation to take up any excess Rights Shares which have not been taken up by the other entitled shareholders and/or their renouncees under the Rights Issue.