Jakarta, CNBC Indonesia – After questioning the management of PT Bank Ina Perdana Tbk (BINA), the Indonesia Stock Exchange (IDX) has finally opened a suspension (temporary suspension) of trading in BINA’s shares starting Wednesday, July 21.
Previously, the IDX had temporarily suspended or suspended the shares of the bank owned by Indofood boss Anthoni Salim since last Friday, July 9, or the Exchange has been trading for 7 days.
“In reference to Stock Exchange Announcement No.: Peng-SPT-00106/BEI.WAS/07-2021 dated July 8, 2021, regarding the Temporary Suspension of Trading (Suspension) of Bank Ina Perdana Shares, it is hereby announced that the suspension of trading of shares of Bank Ina Perdana in The Regular Market and Cash Market will re-open from the first trading session on July 21, 2021,” read the IDX announcement, Monday (7/19/2021).
The suspension since July 9 on BINA shares is in line with the significant price spike in the last few weeks.
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.
In its letter to BINA management, IDX also asked a number of questions along with the suspension.
Some of the questions include the reasons for the increase in share prices, share pledge transactions or repurchase agreements (repo), corporate actions, to the plan to divest the controlling shareholder.
The management of BINA also answered in its letter related to a number of questions from the stock exchange authority.
Regarding share pledges, BINA management confirmed that the company was not aware of any share pledge (repo) activities carried out by the company’s shareholders.
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 divestment plan from the bank’s main shareholder, said Ria Sari Sidabutar, Corporate Secretary of BINA in his explanation letter, quoted on Monday (19/7/2021).
BINA management also confirmed 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 said to be the ultimate shareholder (last beneficiary entity) of BINA.
As of June 30, 2021, the Salim Group through its investment vehicle Indolife Pensiontama, which is the controlling shareholder of BINA, owns 22.47% of the company’s shares.
The company believes that the increase in stock prices that occurred some time ago was due to the company’s improved and sustainable performance with the existence of a broad 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 the approval of this rights issue, Anthony Salim, as the ultimate shareholder, has the opportunity to increase his share ownership in Bank Ina.