Indonesia’s Bank Danamon has fixed the price for its upcoming rights issue at Rp4,300 per share, which is in the bottom half of the initial range and will result in a total deal size of Rp5 trillion $585 million. The money will be used to fund further loan growth and to allow the bank to pursue various business opportunities, including acquisitions.
The share price has held up relatively well since the indicative terms were announced on July 25 despite the collapse in global equity markets in recent weeks, and the discount versus Friday’s close the price was announced yesterday morning is 17.3%. There was a risk that the discount...
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