JAKARTA - PT Bank Maspion Indonesia Tbk. (BMAS) held an additional capital by granting pre-emptive rights (PMHMETD) III or rights issue by issuing 9.48 billion new shares. Through the rights issue, the ownership of the Thai financial corporation Kasikorn Bank or KBank is getting stronger at Bank Maspion.
Quoted from the information disclosure page of the Indonesia Stock Exchange (IDX), Tuesday, November 14, KBank carried out share-taking transactions in the BMAS rights issue of 6.41 billion shares on November 9, 2023.
Each of the rights issue share-taking transactions was carried out through the Head of the National Vision Financial Company Pte. Ltd (KVF) 6.23 billion shares and PT Kasikorn Vision Financial Indonesia (KVFI) 181.02 million shares. The exercise price of the BMAS rights issue is IDR 370 per share.
"The purpose of the transaction is to take the top part of the new shares in PMHMETD III from BMAS," wrote Head of Corporate Secretary of Bank Maspion Iwan Djayawasta.
As a result, KBank's share ownership through KVF and KVFI in Maspion Bank is getting thicker. The number of shares owned by KBank is both direct and indirect in BMAS before the transaction reached 5.83 billion shares or 67.68 percent.
Then, after the transaction, KBank's direct and indirect share ownership became 12.25 billion shares or the equivalent of 81.44 percent. Along with the stronger KBank grip in BMAS, the ownership of Alim Markus conglomerate in BMAS is increasingly diluted or shrinking.
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Alim Markus, who previously controlled BMAS, had previously released 67.5 percent of its share ownership in BMAS to KBank last year. At that time, BMAS shareholders consisting of PT Alim Investindo, PT Maspion, PT Husin Investama, PT Maspion Investindo, and 5 individual shareholders had signed the Conditional Sale and Purchase Agreement (CSPA) with KBank through KVF related to the sale of Bank Maspion shares.
On the other hand, the management of BMAS explained that this year's rights issue aims to strengthen the capital structure and support business activities and performance. All proceeds from the rights issue after deducting all emission costs will be used by BMAS to strengthen the capital structure in increasing the distribution of the amount of credit or loans, and/or other investments.
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