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Behind the sluggishness of AGRO’s shares after the rights issue

Bisnis.com, JAKARTA — The correction in shares of PT Bank Raya Indonesia Tbk. (AGRO) after holding additional capital with pre-emptive rights (HMETD) or rights issue, many investors are asking questions.

AGRO shares are moving in a negative trend in the last month. Data compiled by Bisnis.com shows the price corrected 620 points or 29.38 percent to the level of Rp. 1,485 as of Thursday (6/1/2022) at 14:22 WIB.

In fact, Bank Raya Indonesia has just implemented the PMHMETD in mid-December 2021 by issuing 1.05 billion new shares with a nominal value of Rp. 100 per share. The exercise price is set at IDR 1,100 per share.

After the corporate action, the composition of ownership of PT Bank Rakyat Indonesia (Persero) Tbk. (BBRI) changed from the previous 85.69 percent to 85.721 percent.

Meanwhile, shares owned by the public which are less than 5 percent changed from 14,303 percent to 14,279 percent. The authorized capital of Bank Raya remains at IDR 6 trillion.

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