Qatar National Bank will acquire approximately 80% stake in PT Bank Kesawan

Qatar National Bank will acquire approximately 80% stake in PT Bank Kesawan language by offering limited shares (rights issue). The Bank President Director Gatot Siswoyo revealed the company plans to hold a rights issue in the first quarter of next year.

"The Qatar National'm due diligence [due diligence] The Bank. After due diligence is completed, we will hold a rights issue and plans, Qatar National which will be the standby buyer, "he said today.He explained in July, the company has appointed Arqaam Capital, an institution which is engaged in investment banking and is based in the Middle East to facilitate the entry of investors into The Bank.

Arqaam Capital is a financial advisory organization that develops in the Middle East and conduct their operations through offices in Dubai and London.

He explained the Qatar National has signed a letter agreement with The Bank to be a standby purchaser in the rights offering. "The Bank is currently engaged in preparing the administration and the regulators for the implementation of the rights issue."

According to him, the introduction of the proceeds from the rights issue to strengthen its capital structure that allows the company to roll out the expansion. He describes the parties involved in this transaction agreed to realize this deal after all administrative and due diligence process completed.

As of June, the Bank has 34 branch network in the country with assets of Rp2, 3 trillion, capital of Rp180 billion, with capital adequacy ratios (the Capital Adequacy Ratio / CAR) of 12%. The Bank was established in 1913 as one of the local banks in Singapore and initially engaged as The Chinese Trading Company Limited.

In 1990, the Bank moved its headquarters to Jakarta to position them as national banks. As of July 31, 2010, PT Mallomo has a 18.37% stake in PT Adhi Tirta Mustika controlling 51.23% stake, and the rest of the public.

The Bank share prices today closed at the level of Rp800 stagnant compared to the closing on August 26 which makes the market berkapitalisasi Rp501, 22 billion.

Qatar National Bank is the largest bank in Qatar, which has a market share of almost 40%. The company is a universal bank that offers a wide range of retail products, konporasi, investment banks, treasury, Islamic banking, and wealth management

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