Indonesia’s BCA raises $202 million from treasury share sale

The shares are sold to a small group of long-term investors at a 0% discount to the latest close and result in a 136% gain for the Indonesian bank.

Bank Central Asia BCA, the biggest bank in Indonesia by market cap and the largest private-sector bank in terms of total assets, has raised Rp1.968 trillion $202 million by selling the rest of the treasury shares held on its balance sheet.

The shares were sold to a small group of investors through a club-like deal that was open for less than 45 minutes late on Tuesday evening, a source said.

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