After Purchased By Alfamart Conglomerate Djoko Susanto, Bank Aladin Syariah Will Arrival New Investors Through Private Placement

PT Bank Aladin Syariah Tbk. (Photo: Doc. Antara)

JAKARTA - PT Bank Aladin Syariah Tbk, which is led by the son of Foreign Minister Retno Marsudi, namely Dyota Marsudi, will have new investors. The trick is to issue new shares without pre-emptive rights (private placement).

Citing the company's offering document, Thursday, June 23, Bank Aladin issued 1.38 billion shares with a nominal value of Rp. 100 per share. This amount is equivalent to 10 percent of the issued and paid-up capital.

According to the management of Bank Aladin, this step was taken to strengthen the capital structure in the context of business development. The funds obtained from this private placement will be used to increase working capital in the context of business expansion.

If everything goes well, the company estimates that cash and cash equivalents will increase 9.89 percent from Rp1.39 trillion to Rp1.53 trillion. Then assets rose 5.17 percent from Rp. 2.66 trillion to Rp. 2.79 trillion, and equity rose 6.87 percent from Rp. 2 trillion to Rp. 2.14 trillion.

In addition, the composition of Bank Aladin's shareholders will also experience changes.

The first scenario; Warrant holders do not redeem series I warrants. The composition will be Aladin Global Ventures with 52.74 percent, people under 5 percent owning 38.17 percent and private placement investors with 9.09 percent.

The second scenario; Warrant holders redeem series I warrants. The composition is, Aladin Global Ventures is 44.69 percent, people under 5 percent will own 32.25 percent, series I warrant holders are 15.26 percent, and private placement investors are 7.7 percent.

Management explained that the issuance of these new shares will be issued to one or several investors. Meanwhile, to expedite this action, Bank Aladin will hold an extraordinary general meeting of shareholders (EGMS) on 29 July.