Jakarta, CNBC Indonesia – The Right Issue of PT Bank Rakyat Indonesia Tbk (BBRI) has entered the last date of stock trading with Pre-emptive Rights (Cum Date) in the regular market and the Negotiation Market 7 September 2021. This means that this is the right time for investors to buy BRI shares at low prices.
The rights issue process for the establishment of Holding Ultra Micro with PT Pegadaian and PNM has received the green light from the Financial Services Authority (OJK) on 30 August. This corporate action has also been set at a price of Rp. 3,400 per unit.
This means that this price is ‘cheaper’ compared to the stock price at the opening of trading Tuesday (7/9/2021), which is Rp 3,890/share. The rights issue price is still below BRI’s share price at the close of trading Monday (6/9/2021), at Rp 3,850/share.
This low price provides benefits for BBRI shareholders, aka old investors. Because, there is an opportunity for old investors who want to add BBRI shares to get the opportunity to buy at the right issue price.
As for investors with share ownership of less than 1 billion shares, there is no need to worry, because they still have the opportunity to buy shares from this rights issue. Every shareholder who owns less than 1 billion shares can get Preemptive Rights in accordance with the portion of the HMETD ratio. However, any Rights in the form of fractions will be rounded down.
For example, if a retail investor owns 10 lots or 1,000 shares of BBRI, he/she will get 230.12 HMETD. However, due to rounding off, the HMETD received is only 230 units or 2 lots plus 30 units or odd lots.
After obtaining the Rights, it can be executed into new BRI shares at a cost of Rp 3,400 per share. This price is much cheaper than BBRI’s share price, which continues to move in the range of Rp 3,800-4,100 in the last few weeks.
As for the last date of stock trading with Pre-emptive Rights (Cum date) on the cash market on September 9, 2021. Then the distribution date of Pre-emptive Rights is September 10, 2021 and pre-listing of shares on the Indonesia Stock Exchange on September 13, 2021. The trading period for Pre-emptive Rights is September 13-22 2021.
This corporate action was carried out as part of the establishment of the Ultra Micro SOE Holding which is getting closer. The estimated cash that can be generated from this rights issue is a maximum of around Rp 41.15 trillion, if all shareholders exercise their rights according to the portion they have.
BRI President Director Sunarso said the purpose of this transaction was to strengthen the company’s business growth in the future through the establishment and strengthening of the ultra-micro ecosystem. This was achieved by adding to the portfolio of subsidiary companies that have been operating and performing well in the ultra micro business segment, namely PT Pegadaian and PT Permodalan Nasional Madani (PNM).
“The company needs a new source of growth going forward, namely the ultra micro business segment. So the company can grow sustainably and make a positive contribution to shareholders and other stakeholders, including ultra micro businesses and MSMEs,” said Sunarso.
(rah/rah)
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