Jakarta. MNC Internasional Bank (BABP) belonging to business magnate Hary Tanoesoedibjo plans to raise Rp 1 trillion ($64.6 million) in fresh capital by holding a rights issue starting on Wednesday.

The company will issue 13.5 billion new B-series shares at a price of Rp 75 each on five trading days until December 27.

Shareholders entitled to the rights issue are those who remain on the list by December 15, MNC announced in a filing to the Indonesia Stock Exchange on Tuesday.

The proceeds generated from the new stock issuance will be used to strengthen the capital base and increase the amount of credits, the lender said.

MNC Bank booked a net profit of Rp 39.49 billion in the second quarter of the year, up by nearly 14 percent, year-on-year.

Over the same period, credit issuance also grew by 8.8 percent to Rp 10.53 trillion while public savings managed by the bank rose by 2.8 percent to Rp 12.31 trillion.

As of June 30, MNC Bank assets stood at Rp 16.86 trillion, an increase of 14.18 percent on the asset value recorded a year earlier.