Bank Maspion Indonesia aims for IPO by January

Bank Maspion Indonesia plans to raise the necessary capital for  expansion by listing on the Indonesia Stock Exchange by January 2013.

The bank plans to release 11 percent of company shares to the public.

“The funds generated should be enough to support our expansion plans in the next one or two years,” he said.

He added that that the bank would consider a rights issue if it needed to raise more funds within the next couple of years.

Following the initial public offering, the bank planned to maintain its 25–30 percent.