Bank Harda, Owned By A Conglomerate, Chairul Tanjung, Is Planning A Rights Issue To Absorb IDR 750 Billion

JAKARTA - PT Bank Harda Internasional Tbk. plans to hold a rights issue or Pre-emptive Rights (HMETD) by spreading 7.5 billion shares to strengthen the business capital structure.

Based on the disclosure of information submitted to the Indonesia Stock Exchange (IDX), Bank Harda is said to be releasing shares for Rp100 per share. This means that the fresh funds that have the potential to be collected will reach a value of IDR 750 billion.

This corporate action can only be carried out after the company has received the blessing of shareholders at the General Meeting of Shareholders (GMS), which was scheduled to be held on 7 May.

For information, Bank Harda has recently been taken over by national businessman Chairul Tanjung (CT) through PT Mega Corpora.

Through the Mega Corpora, CT will enlarge its share composition by absorbing all of Bank Harda's rights issue this time.

"PT Mega Corpora as the new controlling company has stated its commitment to support the fulfillment of the company's core capital as stipulated in the prevailing regulations," said Bank Harda in its report as quoted on Friday, April 2.

It is estimated that the composition of Mega Corpora's shares in the bank with the code of issuer BBHI will soar from the previous 73.71 percent to 90.95 when the corporate action is completed.

VOI noted, on October 16, 2020, the majority shareholder of Bank Harda, namely PT Hakimputra Perkasa, had signed a share purchase agreement of 3.08 billion shares or 73.71 percent of all issued and fully paid shares.

Then, BBHI shareholders have also approved the plan to take over by Mega Corpora on the 3.08 billion shares.

Shareholders' blessing was given at the extraordinary general meeting of shareholders (EGMS) which was held on Friday, January 29, 2021.

The Financial Services Authority (OJK) also gave the green light to CT to annex Bank Harda through the Decree of the OJK Board of Commissioners no. Kep.40 / D.03 / 2021 dated March 10, 2021 concerning the permit to take over 73.71 percent of the shares of PT Bank Harda Internasional Tbk. by PT Mega Corpora.