Jakarta, CNBC Indonesia – A number of mini banks aka BUKU II banks (business group commercial banks with a core capital of Rp 1 trillion to Rp 5 trillion) are busy conducting additional capital by granting Pre-emptive Rights (HMETD) alias rights issue.
Most of these mini-banks hold rights issue with the aim of increasing capital in accordance with the provisions of the Financial Services Authority (OJK) which requires banks to have a minimum capital of Rp 2 trillion this year and Rp 3 trillion next year.
Below this CNBC Indonesia Research Team summarizes 10 mini-banks that are and will do rights issue soon.
1. Bank JTrust Indonesia (BCIC)
The shareholders of PT Bank JTrust Indonesia Tbk (BCIC) approved the planned rights issue of 4,665,700 shares or equivalent to 46.60% of series C shares with a nominal value of Rp 100/share.
Implementation rights issue This is intended to increase the authorized capital of the bank, which was previously known as Century Bank, to Rp 20 trillion.
“Approved to convert all of the Company’s portfolio shares into series C shares and increase the Company’s Authorized Capital to Rp 20 trillion,” said the minutes of the meeting which were submitted to the Indonesia Stock Exchange, Wednesday (28/7/2021).
The GMS also approved the payment of shares by the Company’s Major Shareholders, namely J Trust Co., Ltd., Japan, J Trust Asia Pte. Ltd., Singapore and PT JTrust Investments Indonesia jointly in the exercise of the Preemptive Rights carried out with compensation for Other Equity Components and Conversion of Claims from Subordinated Loans totaling Rp. 1,362,124,750,000 or (Rp 1.36 trillion) in PMHMETD.
2. Bank Neo Commerce (BBYB)
Annexed banks startup fintech In Indonesia, PT Akulaku Silvrr Indonesia in 2019 PT Bank Neo Commerce Tbk (BBYB) is holding a Limited Public Offering (PUT) IV through a rights issue by issuing a maximum of 832,724,404 new shares.
The nominal value in this corporate action is IDR 100/share or equivalent to IDR 249,817,321,200 (249.82 billion).
The rights issue plan itself has received approval from the shareholders through the Extraordinary General Meeting of Shareholders (EGMS) on September 30, 2020.
PT Akulaku Silvrr Indonesia and PT Gozco Capital as the Company’s Major Shareholders have stated their ability to exercise all of their rights to purchase the new shares.
The proceeds from the PUT IV, after deducting issuance costs, will be used entirely for working capital for BBYB’s business development, in the form of lending and other banking operations.
Shareholders who do not exercise their rights will experience a decrease in share ownership (diluted) by 11.11%. The implementation period of the Preemptive Rights will take place on 15 – 21 June 2021.
3. Bank Capital Indonesia (BACA)
PT Bank Capital Indonesia Tbk (BACA) plans to hold a Limited Public Offering IV (PUT IV) through a rights issue of up to 20 billion shares.
Referring to the disclosure of information published by BACA, the nominal value of the rights issue is Rp 100 per share. For this corporate action, the management of BACA will seek the approval of the shareholders through the Extraordinary General Meeting of Shareholders (EGMS) which will be held on 25 August.
According to BACA’s management, the proceeds from the rights issue will be used to strengthen the capital structure.
For BACA shareholders who do not exercise Preemptive Rights, the percentage of share ownership will be diluted up to 73.86%
4. Bank Ina Perdana (BINA)
The shareholder of a bank owned by the Salim Group, PT Bank Ina Perdana Tbk (BINA), approved the company’s plan to increase capital through a rights issue scheme
This was determined at the Extraordinary General Meeting of Shareholders (EGMS) of Bank Ina Perdana for the 2020 financial year. The company will issue a maximum of 2 billion new shares with a nominal value of Rp 100 per share.
The approval of the rights issue has smoothed the plan to increase core capital to Rp 2 trillion by the end of 2021.
The composition of the company’s current share ownership; PT Indolife Pensiontama holds 22.47 percent, PT Gaya Hidup Masa Kini holds 9.98 percent, PT Philadel Terra Lestari controls 7.53 percent, PT Samudera Biru, 16.51 percent.
5. International Business Bank (BBSI)
The bank supported by peer to peer lending Kredivo, PT Bank Bisnis Internasional Tbk (BBSI) will issue new shares under the scheme rights issue for the second time (Limited Public Offering/PUT II).
In the disclosure of information on the Indonesia Stock Exchange (IDX), BBSI management represented by BBSI President Director Laniwati Tjandra said the company plans to conduct a Public Offering II with a maximum number of 434,782,609 shares with a nominal value of Rp 100/share. This amount is equivalent to 14.37% of the company’s paid-in capital.
The proceeds from this rights issue will entirely be used by the company to strengthen the capital structure to meet the OJK core capital requirements and as additional working capital in the context of providing loans to customers which will be realized in stages.
The shareholders of the company who do not exercise their rights to pre-emptive securities, the percentage of share ownership as a whole will be diluted by a maximum of 12.56%.
Just so you know, Kredivo or FinAccel Teknologi Indonesia currently has a share ownership of 24% until May 21, 2021.
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