Jakarta, CNBC Indonesia – The Indonesia Stock Exchange (IDX) has officially opened the suspension (temporary suspension) of trading shares of PT Bank Ina Perdana Tbk (BINA), a bank owned by the Salim Group, starting Wednesday, July 21 today. However, when opened, BINA’s shares almost touched the lower auto reject (ARB) 7%.
Trading data showed that BINA’s shares fell 5.65% at the level of Rp 5,450/share, although previously it had weakened by more than 6%. At 10.01 WIB, BINA’s shares fell by 6.06% at Rp 5,425/share.
The transaction value of BINA shares reached Rp 21.17 billion with a trading volume of 4.87 million shares. BINA’s stock market capitalization reached Rp 31 trillion.
In the last month, BINA’s stock has increased by 12.79% and in the last 3 months it has skyrocketed by 244%. Previously, the IDX had temporarily suspended or suspended BINA’s shares since last Friday, July 9, or the Exchange has been trading for 7 days.
This suspension was carried out due to the significant movement of BINA shares. Before the suspension was opened, in the last 6 months BINA’s shares skyrocketed by 737%.
The IDX also questioned BINA’s management regarding reports of share pledge transactions or repurchase agreements (repo), corporate actions, and plans to divest the controlling shareholder.
In his letter to the IDX, the management of BINA also answered in his letter related to a number of questions from the stock exchange authority.
Regarding share pledges, BINA management confirmed that the company was not aware of any share pledge (repo) activities carried out by the company’s shareholders.
In addition, the company’s management also stated that they did not receive any funds from the repo proceeds.
“The company does not know about the planned divestment (sale) of shares by the company’s main shareholder,” Ria said in the letter’s statement, when the stock exchange asked if there was a divestment plan from the bank’s main shareholder,” wrote Ria Sari Sidabutar, Corporate Secretary of BINA, in the letter of explanation.
BINA management also confirmed that there would be no change of ownership of the current shareholder, namely Anthoni Salim through PT Indolife Pensiontama, to a new shareholder. Salim is said to be the ultimate shareholder (last beneficiary entity) of BINA.
As of June 30, 2021, the Salim Group through its investment vehicle Indolife Pensiontama, which is the controlling shareholder of BINA, owns 22.47% of the company’s shares.
The company believes that the increase in stock prices that occurred some time ago was due to the company’s improved and sustainable performance with the existence of a broad ecosystem.
In addition, the increase in share prices was also due to a corporate action plan to be carried out in the context of increasing capital and developing banking services.
The company will conduct a Limited Public Offering (PUT) III corporate action by granting Preemptive Rights (HMETD/rights issue) of 2 billion shares with a nominal value of Rp 100/share.
This corporate action will be carried out in the second half of this year and has received shareholder approval on June 16, 2021.
With the approval of this rights issue, Anthony Salim, as the ultimate shareholder, has the opportunity to increase his share ownership in Bank Ina.
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