Jakarta. Shares of lender Bank Pundi Indonesia jumped 33.85 percent on Monday on a merger plan with Bank MNC Internasional, after the bourse lifted a trading suspension on its stock.

Bank Pundi’s shares closed at Rp 87, its highest since September last year. Shares of Bank MNC rose 3.23 percent to close at Rp 96 on Monday.

Investment company MNC Kapital Indonesia said last Thursday that it was finalizing the documentation on a merge agreement between Bank MNC and Bank Pundi.

The company is “finalizing documentation on merger agreement” between Bank MNC and Bank Pundi, it said in a filing to the stock exchange.

It has also set aside Rp 100 billion ($7.70 million) for capital reserve injection to Bank Pundi, the statement said.

Bank Pundi is now controlled by businessman Sandiaga Uno and Bank MNC by businessman Harry Tanoesoedibjo.

Reuters

The post Bank Pundi Shares on the Up After Acquisition News appeared first on The Jakarta Globe.

Source: The Jakarta Globe