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.
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An advert for one of BTN's Islamic products
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<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.

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