Neo Commerce Bank Targets IDR 393.5 Billion From Rights Issue

JAKARTA - PT Bank Neo Commerce Tbk (BNC) is targeting funds of IDR 393.5 billion through the corporate action of Capital Increase with Pre-emptive Rights (PMHMETD) or rights issue for the purpose of strengthening sustainable capital structure and growth.

The Company conducts Limited Public Offering (PUT) to shareholders with the PMHMETD VII scheme of 1.31 billion new shares with a nominal value of IDR 100 per share. This amount is equivalent to 9.82 percent of the issued and fully paid capital in the company. The exercise price is IDR 300 per share.

"We believe that the improvement in BNC's performance since the beginning of this year has shown a turning point and we believe that this kindness is sustainable. The funds obtained will certainly support the Company's performance even better in the future," said Acting. President Director of Neo Commerce Bank Aditya Windarwo in his statement in Jakarta, quoted from Antara, Thursday 4 July.

In this PUT, each shareholder who owns 700 million old shares whose name is recorded in the shareholder register (DPS) on July 10, 2024 at 16:00 WIB has 76.26 million Rights, of which each Preemptive Rights gives the holder the right to buy a new share.

This corporate action has received an Effective Statement from the Financial Services Authority (OJK) on Friday (28/7). PT Akulaku Silvrr Indonesia, as the controlling shareholder of BNC, gave a commitment as a standby buyer. In this case, Akulaku will buy all the remaining new shares that are not taken part by other shareholders.

Aditya said that this rights issue corporate action would have a strategic impact on the company in supporting a more optimal performance improvement.

Akulaku's commitment, said Aditya, shows that controlling shareholders support BNC, especially in improving its services to all customers and realizing the ideals of financial inclusion in the country.

The listing of shares (recording date) in this rights issue will be carried out on July 10, 2024, with the implementation and trading period of Preemptive Rights which will take place on July 12-18, 2024.

The end of the payment of additional orders is scheduled for July 22, 2024, with an allotment date on July 23, 2024 and a refund date for the order on July 24, 2024.