Bank Jago (ARTO) has kicked off its rights issue for three billion new shares, representing 21.65% of enlarged capital, priced at Rp2,350 per unit, to raise total proceeds of Rp7.05 trillion. The trading of rights is scheduled for March 10-17, 2021. PT Metamorfosis Ekosistem Indonesia (MEI), the primary and controlling shareholders, will only absorb 42.6 million new shares at a value of Rp100.1 billion, while the rest of its portion (1.87 billion shares) worth Rp4.39 trillion will be transferred to GIC Private Limited.

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