DBS Bank Bukopin: Not Rated; Rp760; BBKP IJ

Contemplating on increasing rights issue shares

PT Bank Bukopin Tbk is considering raising rights issue portion from 30% to 50% to accommodate investors’ interest in acquiring majority stake in the bank. BBKP’s CEO stated that the company has intention to raise rights issue stake but did not clearly disclosed whether BBRI will bid for the majority share. For this purpose, BBKP has appointed CIMB Securities as financial advisor. Currently BBKP is finalizing audit process for Financial Statement as of July 2010, which will be used as reference in the rights issue process.