Placement portion of BTN’s rights issue raises $154 million

Indonesia’s Bank Tabungan Negara sets the rights issue price at a 17.4% discount to Terp and prices the placement at a 9% discount for a total deal size of $195 million.
<div style="text-align: left;">
An advert for one of BTN's Islamic products
</div>
<div style="text-align: left;"> An advert for one of BTN's Islamic products </div>

The placement of the Indonesian government’s 71.85% entitlement in Bank Tabungan Negara’s (BTN) pending rights issue has raised Rp1.478 trillion ($154 million) for the bank and the government after being priced at a premium to the rights offering.

¬ Haymarket Media Limited. All rights reserved.

Sign in to read on!

Registered users get 2 free articles in 30 days.

Subscribers have full unlimited access to FinanceAsia.

Not signed up? New users get 2 free articles per month, plus a 7-day unlimited free trial.

Questions?
See here for more information on licences and prices, or contact [email protected].

Share our publication on social media
Share our publication on social media