Rights Issue of Bank Neo Comerce Back to Quarter II-2022, Investors Ready to Absorb

Reporter: Ferrika Sari | Editor: Herlina Kartika Dewi

KONTAN.CO.ID – JAKARTA. PT Bank Neo Commerce Tbk (BBYB) plans to postpone the rights issue to the second quarter of 2022.

However, the President Director of Bank Neo Commerce, Tjandra Gunawan did not reveal the reason for the delay in the implementation of the corporate action.

“We wanted the first quarter, but for one reason or another, we postponed the plan to the second quarter, possibly April or May 2022,” said Tjandra in the Indonesia Investment Education – Bank, Above and Beyond webinar, Saturday (22/1).

Tjandra said that there are a number of strategic investors who are ready to absorb the rights issue shares of Bank Neo Commerce. For now, the investor is the controlling shareholder of the company.

“One of our shareholders is Provident Group along with Akulaku and Gozco, and there are existing investors who are committed to participating in this rights issue again,” said Tjandra.

Then, will new investors increase their capacity in this rights issue? Tjandra replied, there is a high possibility that these investors will increase their share.

Also Read: Bank Many Rights Issue This Year, Here Are The Prospects According To Analysts

“For strategic investors, we have talks with several investors. But we can’t share them yet because it’s still January, it’s still too early to announce,” he explained.

However, as an illustration, Tjandra explained that last year’s rights issue was oversubscribed by around 400%-500%. So there are still many investors who have not been able to join the rights issue.

“For the following rights issue, the benefits are very good if, for example, you want to invest in BBYB,” he said.

It is planned that this rights fund will be used partly for capital expenditures, such as the development of digital infrastructure. This is in line with the target of 15 million users of the Bank Neo Commerce digital application this year, thereby encouraging an increase in low-cost funds.

Previously, Bank Neo had raised Rp 2.5 trillion in rights issue funds last year. This bank is again carrying out similar corporate actions to meet a minimum core capital of IDR 3 trillion in 2022.