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Business deals

Indonesia creates ultramicro holding via $6.7bn rights issue

State-owned Bank Rakyat seeks to expand financing access to tiniest businesses

Bank Rakyat Indonesia is pinning growth hopes on lending to tiny businesses. (Photo by Nozomu Ogawa)

JAKARTA -- State-owned Bank Rakyat Indonesia has officially become a holding company for so-called ultramicro businesses, having acquired two smaller state enterprises as the trading period begins for the lender's potential record 95.9 trillion rupiah ($6.7 billion) rights issue financing the deal.

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