After Being Suspended For Almost 2 Weeks, The Shares Of The Bank Owned By Tony Winata Dropped

Tomy Winata Conglomerate (Photo: Doc. Antara)

JAKARTA - Shares of PT Bank Artha Graha Internasional Tbk are being traded again from the first session today, Tuesday 16 March. Previously, the shares of the bank coded INPC were suspended by the Indonesia Stock Exchange on March 4, 2021.

Citing the IDX announcement, the suspension of trading of PT Bank Artha Graha International Tbk (INPC) Shares in the Regular Market and Cash Market and Series I Warrants of PT Bank Artha Graha Internasional Tbk (INPC-W) in All Markets is reopened starting the trading session I on March 16, 2021.

When it started to wade back into trading in the market, INPC's share price actually dropped. Based on VOI's monitoring, at 11.01 a.m. local time, INPC's shares fell 6.88 percent to the level of IDR 298.

INPC shares were traded 206 times. The volume of shares traded was 9.33 million shares with a transaction value of IDR 2.78 billion.

For information, IDX suspended INPC shares on March 4, 2021, for a reason. The stock exchange originated that there was a significant increase in the cumulative price of the bank shares owned by Tomy Winata.

On the other hand, Bank Artha Graha is trying to commit to fulfilling a minimum core capital of IDR 3 trillion before December 2022. This was done by Bank Artha Graha in order to fulfill the obligations of the Financial Services Authority (OJK).

As is known, the OJK required core capital for commercial banks last year to be at least IDR 1 trillion, this year IDR 2 trillion, and next year IDR 3 trillion. This is as stated in OJK Regulation No. 12/2020.

Bank Artha Graha Corporate Secretary, Susana explained that the strategy to fulfill this provision is that the company will issue Long Term Notes (LTN) of Subordinated Bonds (Subdebt) I Phase II of IDR 300 billion which will be carried out in the middle of this year.

"This is in accordance with the RBB or the company's Bank Business Plan which has been stated that it is projected that the issuance of Phase II Subordinated LTN I of IDR 300 billion will be carried out by mid-2021", said Susana, quoted from the disclosure of information on the Indonesia Stock Exchange (IDX) website, Friday, March.

Currently, the core capital of Bank Artha Graha is IDR 2.6 trillion as of September 30, 2020. Subordinated LTN I Phase I and II, said Susana, are used to strengthening capital to expand the company's business.