Bagging 33.9 Percent, Korea’s Largest Bank Becomes Bukopin’s Largest Shareholder Page all

JAKARTA, KOMPAS.com – KB kookmin Bank, bank the largest South Korean origin officially becomes shareholder the biggest Bank Bukopin after the completion of the 5th Limited Public Offering (PUT V) through the Pre-emptive Rights (HMETD) scheme.

KB absorbed about 2.97 billion new shares during the trading period and additional pre-emptive rights orders. In addition to KB, Bosowa Corporindo also carried out its HMETD portion by absorbing 1.09 billion shares.

Overall, Bukopin issued new shares totaling 4,660,763,499 new class B shares, in accordance with the approval of the shareholders obtained at the Extraordinary General Meeting of Shareholders on October 24, 2019.

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According to data from the Securities Administration Bureau which is a partner of Bukopin, Datindo Entrycom, in addition to carrying out its pre-emptive rights, a number of shareholders have ordered additional shares resulting in an excess of nominal orders (oversubscribe) up to 2 times.

The participation of retail (community) shareholders in LPO V is also quite large. With the completion of this LPO V, Bank Bukopin received an additional new capital of Rp 838 billion.

With the termination of trading transactions on LPO V, the composition of the order Shareholder Bank Bukopin became a KB with a portion of 33.90 percent, followed by Bosowa with 23.40 percent, the Republic of Indonesia at 6.37 percent, and public shareholders with ownership below 5 percent, reaching 36.33 percent.

With these ownership KB Kookmin Bank getting closer to becoming a controlling shareholder of Bank Bukopin.

“We are very grateful that this corporate action went smoothly, and appreciates KB, Bosowa and public shareholders who have participated in strengthening Bukopin’s capital in this LPO V,” said Bank Bukopin’s President Director, Rivan Purwantono in an official statement received Kontan.co.id, Thursday (7/30/2020).

Rivan said, it is oversubscription at PUT V this shows high interest from shareholders.

“PUT V is also a new history for Bukopin. The interest of public shareholders is extraordinary, reaching 24 percent of the total portion of public shares successfully traded at LPO V, “he said.

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Bukopin continued Corporate Action through Capital Increase without Pre-Ordering Securities (PMTHMETD) in accordance with the Disclosure of Information that was published on July 14, 2020. In accordance with KB’s commitment, it will deposit additional new capital through the scheme to strengthen Bank Bukopin’s capital.

As planned, Bukopin will seek approval from shareholders through an Extraordinary GMS which is planned to be held on 25 August 2020. Currently in the process of finalization with the regulator.

This step is a form of KB’s commitment to strengthen Bukopin’s fundamentals so that they can develop better in the future. Bukopin’s management and stakeholders have high hopes for the increasing portion of Kookmin Bank KB ownership.

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It is expected that collaboration between KB and Bank Bukopin which has a similar business segment in the retail segment, can strengthen Bukopin’s position in the retail market with sustainable growth.

“Kookmin Bank has business characteristics similar to Bank Bukopin, which is focused on the micro, small and medium business (MSME) segment, and the Consumer segment. As for 57 percent of Bank Bukopin’s credit portfolio is in the MSME segment, and KB is committed to developing this retail segment, “Rivan said.

He added, the community is expected to increase participation in supporting Bukopin and KB, because the development of the retail sector will also have a positive impact on the Indonesian economy, which is about a third dependent on the domestic consumption sector. (Laurentus Marshall Sautlan Sitanggang)

This article has been published on Kontan.co.id with the title With a 33.9% stake, KB Kookmin Bank officially became the operator of Bukopin Bank

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