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.

This was the second sale of treasury shares by BCA, which broke new ground with the first such sale in Indonesia back in August last year. That deal raised just $74 million though.

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