Who is Behind Bank Jago Rights Issue?

By Editorial Team 31/08/2020
Digital bank
Summary

PT Bank Jago Tbk (ARTO) plans to conduct a limited public offering to the company's shareholders for additional capital with pre-emptive rights, issuing 3 billion new shares in the rights issue with a nominal value of Rp 1000 per share, according to the announcement on the Indonesia Stock Exchange (IDX).

The rights issue will be carried out immediately after the Financial Services Authority has declared the registration effective. Bank Jago's Corporate Secretary Tjit Siat Fun said that the company would hold an Extraordinary General Meeting of Shareholders (EGMS) on October 5, 2020. All funds raised would be used to strengthen the capital structure, business expansion, and investment in information technology infrastructure and human resources.

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