JAKARTA: Business group Bosowa Corporation won't exercise their preemptive rights on PT Bank Kesawan Tbk's new shares issuance, following Qatar National Bank readiness to be the standby buyer on the right issue, early next year.
Bosowa Corporation CEO Erwin Aksa said his company will allow their 18.37% shares to be diluted.We will not take our right, let it diluted, As he said recently.According to Bisnis data, Bosowa is in the process of negotiation with Qatar National Bank to release all of their shares in Bank Kesawan to stay focus on real business sector.He did not decline the data but refused to say further details on the right issue but promised to share the information at the right time.Meanwhile, Bank Kesawan president Gatot Siswoyo did not answer Bisnis call related to the Aksa Mahmuds business group right issue.Bosowa Group holds 18.37% stake through PT Malomo Transportindo. Former Vice President Jusuf Kala's brother-in-law company becomes the public investor after the right issue in July 2009 which spent IDR40 billion. (t05/wiw)
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