JAKARTA: Indonesia's Bank Windu Kentjana International is delaying a planned rights issue until China Construction Bank Corp (CCB) gets approval from the Chinese banking regulator to buy a majority stake in the Jakarta lender, president director Luianto Sudarmana said on Monday.
The Indonesian banking regulator had previously said it would approve CCB buying a more than 50 percent stake in Bank Windu, in a rare case of a foreign bank being allowed to own more than 40 percent of an Indonesian lender.
The rights issue plan was initially scheduled for the end of this year, with CCB getting a majority stake and the stake of tycoon Johnny Wiraatmadja, the current majority owner, reduced to 20-25 percent.
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