Jakarta - PT Bank Victoria International Tbk (BVIC) plans to issue 5 billion shares.

According to the company's prospectus, released on Thursday (8/25), the EGMS to approve the company will hold the plan to increase capital by granting Preemptive Rights on September 30, 2022.

The company will use the proceeds from the additional capital to strengthen the capital structure to meet the minimum core capital stipulated in OJK regulation no. 12/POJK.03/2020 concerning Consolidation of Commercial Banks, as well as working modes through business development in the form of credit expansion.

The company's rights issue will strengthen the capital structure that it will use to fulfill the company's minimum core capital and business development requirements.

The increase in performance and competitiveness is also expected to increase the return on investment value for all company shareholders.