Jakarta - PT BPD Banten Tbk plans to conduct a Limited Public Offering III to increase capital through a rights issue of a maximum of 23.388 billion new series C shares.

The company's brief prospectus published on Monday (23/8) stated that the main shareholder of BPD Banten, namely PT Banten Global Development, will not exercise their rights according to the portion of ownership in this rights issue VII.

All costs related to the rights issue VII will be used for the company's business expansion, particularly for lending around 65% and strengthening the financial structure of around 35%.

To implement the rights issue VII plan, the company will use a financial statement book as of March 2021. Total assets were at Rp. 5.509 trillion, with liabilities and equity of Rp4.013 trillion and Rp1.496 trillion, respectively.

Reserves of impairment loss of financial assets to productive assets jumped sharply from 1.91% at the end of March 2020 to 1