Jakarta - PT Bank Bumi Arta Tbk (BNBA) plans to increase its capital with preemptive rights or rights issues.

Based on the company's prospectus released on Wednesday (11/23), the company will issue 616 million new shares, or 18.18% of the total issued and fully paid shares, after the rights issue.

The company acted to comply with the core capital requirement of Rp3 trillion, which the Financial Services Authority OJK determined. The rights issue was also carried out to strengthen the BNBA's capital structure.

Around 80% of the proceeds from the rights issue will be used for additional working capital in the form of lending, and 10% will be used for investment in information technology infrastructure and human resources related to adding a workforce in the context of developing digital banking services. The remaining 10% is for business expansion by developing new products, including digital savings and digital deposits.

Each holder of