JAKARTA - The digital bank company owned by conglomerate Chairul Tanjung, PT Allo Bank Indonesia Tbk plans to increase capital with a pre-emptive rights (HMETD) scheme or rights issue.

The bank, previously known as Bank Harda Internasional, plans to issue a maximum of 10.04 billion new shares or 46.24 percent of the company's paid-in capital with an exercise price of Rp478 per share. This means that Allo Bank has the potential to obtain rights issue funds of Rp4.80 trillion.

The plan is that the funds obtained from this corporate action will be used by the company to strengthen the company's capital structure in order to increase its core capital to become a Bank Group based on Core Capital (KBMI) which is included in the KBMI 2 group as referred to in POJK 12/2021.

Furthermore, the funds will be used for the company's business development, including developing business activities in the credit sector with technological innovations or what is known as digital banking.

In the rights issue, BBHI's controlling shareholder, Mega Corpora will take 2.71 billion shares or the equivalent of 30 percent of the total issued in this corporate action worth Rp1.3 trillion.

It is also known that e-commerce issuer PT Bukalapak.com Tbk (BUKA) and conglomerate Anthony Salim's company PT Indolife Investama Perkasa will also take part in the rights issue.

Allo Bank has obtained an effective statement from the Financial Services Authority (OJK) on December 30, 2021. And the following is the complete schedule for the BBHI rights issue:

- Cum right HMETD in the regular market and negotiation market on January 7, 2022

- Cum right Rights on cash market on January 11th

- Ex right HMETD in the regular market and negotiating market is scheduled for January 10

- Ex right Rights on the cash market on January 12, 2022.

- The date of recording of the Register of Shareholders (DPS) or recording date on January 11.

- The date of distribution of Preemptive Rights on January 12 and the listing of Rights on the IDX on January 13.

- Preemptive rights trading period on the IDX on January 13th to 19th

- The issuance of shares resulting from the exercise of the Pre-emptive Rights is scheduled from 17 to 21 January 2022


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