Jakarta, CNBC Indonesia – Issuer bank PT Bank Neo Commerce Tbk (BBYB) plans to increase capital by providing Pre-emptive Rights (HMETD) V alias rights issue worth Rp 2.51 trillion.
According to information disclosure on the Indonesia Stock Exchange (IDX), Monday (22/11/2021), Neo Commerce Bank will issue a maximum of 1,927,162,193 (1.93 billion) new shares or 20.45% of the issued and paid-up capital. the Company after PMHMETD V with a nominal value of Rp100 per share.
The exercise price is Rp. 1,300 per share so that the total amount is a maximum of Rp. 2,505,310,850,900 (Rp. 2.51 trillion), which comes from the Company’s portfolio shares and will be listed on the IDX.
Each shareholder who owns 35 shares whose names are recorded in the Company’s Register of Shareholders on November 30, 2021 at 16.00 WIB has 9 Preemptive Rights, where every 1 Rights gives the holder the right to buy 1 new share which is offered at an Exercise Price of Rp. 1,300 per share.
These Rights are traded on the IDX and are exercised for 5 working days from December 2, 2021 to December 8, 2021. Rights that are not exercised until the end date of the period are declared no longer valid.
Fintech PT Akulaku Silvrr Indonesia (Akulaku) as the controlling shareholder of BBYB, Rockcore Financial Technology Co. Ltd. as the owner of more than 5% of BBYB’s shares and a business group with PT Akulaku Silvrr Indonesia, and PT Gozco Capital as the owner of more than 5% of the company’s shares, have declared their ability to exercise all of their Pre-emptive Rights to purchase new shares issued in the rights issue this.
Management explained that there were no standby buyers in this rights issue.
“Thus, if after the allocation there are still remaining Preemptive Rights that are not exercised, then the remaining shares will not be issued from the portfolio,” said management in a statement, quoted by CNBC Indonesia, Monday (22/11/2021).
Old shareholders who do not exercise their rights in this corporate action will experience a decrease in share ownership (diluted) by 20.45% after the rights issue.
All funds obtained from the rights issue, after deducting issuance costs, will be used entirely by Neo Commerce Bank to strengthen core capital as follows.
First, approximately 15% will be used as capital to support the expansion of the Company’s credit/productive assets.
Second, around 40% will be used for banking operations.
Third, around 30% will be used to support the development of Information Technology.
Fourth, around 15% will be used to strengthen the CAR (CAR) for the company’s reserves of productive assets in the future.
For information, until the end of September 2021, Neo Commerce Bank’s core capital (tier 1) was recorded at Rp 1.03 trillion. This figure is still below the provisions of the Financial Services Authority (OJK) which requires a minimum bank capital of Rp 2 trillion this year.
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