Jakarta, CNBC Indonesia – PT Bank Oke Indonesia Tbk (DNAR) is planning increase capital in the context of Limited Public Offering III (PUT III) with the scheme of providing Pre-emptive Rights (HMETD) or rights issue a maximum of 2,537,197,095 (2.54 billion) new shares.
Referring to the disclosure of information published on the Indonesia Stock Exchange (IDX), the nominal value rights issue amounting to Rp 100 per share.
The price for the implementation of this corporate action is Rp 197 per share, bringing the total funds to be raised to Rp 499,827,827,715 (Rp 499.83 billion).
Previously, the shareholders of Bank Oke had given the green light to rights issue this in the extraordinary general meeting of shareholders (EGMS) on May 5, 2021.
According to the management’s explanation, each shareholder who owns 9 shares whose names are recorded in the Company’s Shareholders Register on September 29, 2021 at 16.00 WIB has 2 Rights, where every 1 Rights gives the holder the right to buy 1 new share offered.
APRO Financial Co. Ltd. as a major shareholder Bank Oke has expressed its willingness to execute all of its HMETDs to purchase new shares issued within the framework of PUT III.
APRO Financial also acts as a standby buyer, which will purchase all remaining shares offered and not taken part by HMETD Holders in PUT III at the exercise price as mentioned above.
APRO is a finance company from South Korea that focuses on the sector consumer loan.
Bank Oke explained that the funds obtained from the PUT III, after deducting emission costs, would be used entirely for the development of the Company’s business. “[Y]that is channeled in the form of lending,” said the management of Bank Oke, quoted by CNBC Indonesia, Thursday (5/8/2021).
Management added that if the use of the proceeds from the PUT III fulfills material transactions and/or affiliated transactions and/or conflicts of interest transactions, the company will comply with procedures in accordance with the applicable regulations in the capital market sector.
The old shareholders who do not exercise their rights will experience a decrease in the percentage of share ownership (diluted) by 17.99% after the rights issue is carried out.
Regarding the schedule for this PUT III, the last date for trading shares with HMTED in the regular market and negotiations is September 27, 2021. Meanwhile, the last date for trading shares with HMTED in the cash market is September 29, 2021.
Furthermore, the recording date in the Register of Shareholders (DPS) entitled to HMTED will take place on September 29, 2021. Meanwhile, the trading period and payment period for the implementation of HMTED will be held on October 1-7, 2021.
Currently Apro Financial Co. Ltd. controls 92.26% or equivalent to 10,667,645,491 shares of Bank Oke. While the rest is owned by the public by 6.48%.
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