Jakarta, CNBC Indonesia – The management of the bank owned by Indofood’s boss, Anthony Salim, namely PT Bank Ina Perdana Tbk (BINA) was questioned by the Indonesia Stock Exchange (IDX) regarding the increase in its share price in the last few days.
This was done after the company’s shares were locked or traded temporarily suspended (suspension) by the Exchange since last Friday, July 9, 2021, in line with significant price movements.
The Exchange requested an explanation from the BINA management regarding the existence of a share pledge transaction or repurchase agreement (repo) conducted by the company’s major shareholders (ultimate shareholder) company.
Asked that by the IDX, BINA management replied, “The company is not aware of any share pawning (repo) activity carried out by the Company’s Shareholders,” wrote Ria Sari Sidabutar, Corporate Secretary of BINA, in an explanation letter, quoted Friday (16/7/2021) .
In addition, the company’s management also stated that they did not receive any funds from the repo proceeds.
“The company does not know about the planned divestment (sale) of shares by the company’s main shareholder,” Ria said in the letter’s statement, when the stock exchange asked if there was a plan to divest from the bank’s main shareholder.
In addition, it was also emphasized that there would be no change of ownership of the current shareholder, namely Anthoni Salim through PT Indolife Pensiontama, to a new shareholder. Salim is mentioned as ultimate shareholder (last beneficiary entity) BINA.
The company believes the increase in stock prices that occurred some time ago was due to the company’s improved and sustainable performance with the existence of an extensive ecosystem.
In addition, the increase in share prices was also due to a corporate action plan to be carried out in the context of increasing capital and developing banking services.
The company will conduct a Limited Public Offering (PUT) III corporate action by granting Preemptive Rights (HMETD/rights issue) of 2 billion shares with a nominal value of Rp 100/share.
This corporate action will be carried out in the second half of this year and has received shareholder approval on June 16, 2021.
With his approval rights issue this, Anthony Salim, as ultimate shareholder has the opportunity to increase the portion of its share ownership in Bank Ina.
As of June 30, 2021, the Salim Group through its investment vehicle PT Indolife Pensiontama, which is the controlling shareholder of BINA, controlled 22.47% of the company’s shares.
IDX data noted that BINA’s shares were last traded at Rp 5,775/share. In the last month its shares rose 88% and in the last 3 months rose 273%. In fact, in the last 6 months BINA’s shares have skyrocketed by 737% with a market capitalization of Rp 33 trillion.
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