The Fate Of BRIS Shareholders After The Inauguration Of Indonesian Sharia Bank, Profitable Or Bad?
JAKARTA - The merger of Bank Mandiri Syariah and BNI Syariah into BRI Syariah which resulted in a new identity, namely PT Bank Syariah Indonesia Tbk. (BSI) leaves a question, how is the fate of BRI Syariah shareholders?
This is because BRI Syariah is the only one of the three banks that is a public company. Meanwhile, the other two are still closed companies.
Financial Consultant Michael Gunawan said BRI Syariah (BRIS) shareholders will receive a double-digit investment increase from this merger, provided that they have been collecting since one year ago.
"If you bought BRIS shares last year, your investment value would have doubled," he said via Instagram @mmigun as quoted by VOI, Sunday, January 31.
Another advantage he expressed was the possibility of a jump in the assets of 'owned companies' over two other Islamic banks.
"This merger means that the owners of BRIS shares will get BNI Syariah assets plus Mandiri Syariah assets," he said.
"Then, the shareholder's capital value (book value) will increase fourfold after the three banks are merged into one," he continued.
In his calculations, the book value before the merger was IDR 5.2 trillion. After the merger process, this capital value will increase by around IDR 20.4 trillion.
Michael also said that changes also occurred in the number of shares outstanding in the stock market.
"There is an increase from 9.7 billion shares to 40.8 billion shares. This means that the people who previously owned 20 percent of BRI Syariah shares will decrease to 4 percent of the shares of Bank Syariah Indonesia, "he said.
He based the calculations using an optimistic approach, namely the BSI valuation later in the range of 3.5 times the book value.
However, keep in mind that there are many ways to calculate valuation in stock trading activity. Everyone has their own way of interpreting this judgment. Like seeing an art item, each person's assessment will have a different level.