PT Bank Victoria International Tbk (BVIC) plans to increase capital without pre-emptive rights or private placement of up to 586.205 million shares this year.

Based on the company official disclosure submitted to the Stock Exchange, on Thursday (29/4), the private placement price is set at Rp160 per share. So, the company will raise from the outcome of the private placement at around Rp93.792 billion.

The company plans to use the proceeds from the private placement to strengthen its capital and business growth in the form of credit expansion.

The purpose of implementing this corporate action is to strengthen the capital structure and increase the number of shares outstanding, thereby indirectly increasing the trading liquidity of the company's shares.

The shares issuance will be carried out on May 6, 2021 and the listing of new shares on May 7, 2021.

Parties that will receive the shares of the private placements are Victoria Insu