Indonesian bank BTN plans $221mln rights issue in November

JAKARTA, Oct 4 (Reuters) - Indonesian state-controlled lender PT Bank Tabungan Negara Tbk plans to raise up to 2.12 trillion rupiah ($221.18 million) from a rights offering in November, a company announcement published in Bisnis Indonesia newspaper on Thursday said.

The firm plans to sell 1.51 billion rights and the indicative price range is 1,000-1,400 rupiah per share. Shareholders will be offered 94,943 new shares for every 555,000 held.

The offer price will be decided on Nov. 5.

Bahana Securities, Danareksa Sekuritas and Mandiri Sekuritas are appointed as placement agents. In July, Credit Suisse was appointed to manage international sales for the issue.

Shares of Bank Tabungan Negara closed down 4.11 percent at 1,400 rupiah on Oct.4, while the broader index was up 0.47 percent at all-time high.

($1 = 9,585 rupiah)

(Reporting by Andjarsari Paramaditha; Editing by Jane Merriman)

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