www.theindonesiatoday.com - KUALA LUMPUR, Indonesia Today - RHB Capital Berhad plans to resubmit an application for rights issue upon obtaining the necessary approvals for the acquisition of Bank Mestika Dharma.
RHB Capital Berhad informed Bursa Malaysia Thursday (April 19) that the approval from Bursa Malaysia Securities Berhad for the extension of time of up to 19 April 2012 to complete the implementation of the Rights Issue has lapsed. (source)
"As at the date of this announcement, the necessary regulatory approvals for the Proposed Acquisition are still pending. Hence, given that the Rights Issue is conditional upon the Proposed Acquisition, the Company has not been able to implement the Rights Issue," RHB said.
RHB plans to acquire 80% shares of Bank Mestika Dharma for Rp3.19 trillion. RHB has also proposed a put and call option for 9% shares of Bank Mestika. To finance the acquisition, RHB planned to issue new shares worth RM1.3 billion. (Indonesia Today)
Source: http://www.theindonesiatoday.com/news/finance/finance-photo/20792-bank-mestika-acquisition-pending-rhb-capital-rights-issue-lapsed.html - April 22, 2012
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