Companies Owned By Conglomerate Anthony Salim To Bukalapak Will Profit Trillions From Soaring Share Price Of Allo Bank Tycoon Chairul Tanjung

Conglomerate Chairul Tanjung and their daughter, Putri Indahsari Tanjung. (Photo: Instagram @putri_tanjung)

JAKARTA - The soaring share price of PT Allo Bank Indonesia Tbk (BBHI) is certainly a blessing for investors who hold their shares. These include buyers of BBHI's rights issue, such as PT Bukalapak.com Tbk. (BUKA) and PT Indolife Investama Perkasa owned by conglomerate Anthony Salim.

BBHI has completed the rights issue process by issuing 10.04 billion shares and a price of IDR 478 per share on January 19, 2022. Several new investors, such as Bukalapak and PT Indolife Investama Perkasa, have also entered into the rights issue.

Bukalapak absorbs 2.49 billion shares or 11.49 percent of the shares offered by BBHI in the rights issue. The portion of shares absorbed by BUKA is the second largest with a transaction value of around IDR 1.19 trillion. BUKA, of course, still has jumbo cash to absorb BBHI's shares.

As of December 31, 2021, BUKA still has proceeded from the public offering of IDR 19.61 trillion, of net proceeds of IDR 21.32 trillion. In addition, BUKA still holds an IDR 2 trillion credit agreement with PT Bank DBS Indonesia, which will be implemented on November 12, 2021.

Along with Allo Bank's corporate action and digital bank expansion plans, BBHI's shares shot up shaIDR ly. BBHI's share price had reached the highest closing level of IDR 8,100. At the close of trading on Friday, January 21, BBHI's shares were at the level of IDR 6,100, far from the rights issue price of IDR 478 per share.

Throughout 2022, BBHI shares rose 51.56 percent and shot 1,709.21 percent last year. Thus, the executors of BBHI's rights issue already have the potential to earn up to 1,176.1 percent.

Therefore, from the implementation of the IDR 1.19 trillion rights issue, now BUKA's assets at BBHI have reached IDR 15.18 trillion. This fantastic cash potential can at least treat investor disappointment when the OPEN stock slumps.

This weekend, BUKA's shares closed down 2.13 percent or 8 points to IDR 368. This price is further away from the IPO implementation price of IDR 850, when it was listed on the Indonesia Stock Exchange on August 6, 2021.

Meanwhile, the entity of Anthony Salim who is also Indonesia's 3rd richest person, namely PT Indolife Investama Perkasa, absorbed 1.30 billion or 6 percent. With this fund, the Salim conglomerate will deposit capital of IDR 623 billion.

Calculating that BBHI's shares are now at IDR 6,100, the investment value of Indolife Investama Perkasa in BBHI has jumped to IDR 7.93 trillion.