Had Postponed, What IPO Plans For Bank Sumut?

Director of Business & Sharia, Syafrizalsyah (photo: maria /voi)

BALIGE - PT Bank Pembangunan Daerah Sumatera Utara Tbk again spoke about the plan for an initial public offering (IPO). Previously, the North Sumatra BPD had made an initial offer or bookbuilding on January 5-18, 2023, which was later postponed.

Director of Business & Sharia, Syafrizalsyah said, although he still could not reveal further about the IPO plan, he ensured that Bank Sumut was still in the process of being listed

"I can't answer about the IPO yet, but it's in the plan, whether it's in 2026 or 2025 it's not certain yet," said Syafrizalsyah when met by media crews in Balige, North Sumatra, quoted on Saturday, August 10.

Furthermore, Syafrizalsyah said, until now Bank Sumut has only had a capital of IDR 4.2 trillion. Later, after the funds are collected through the IPO, they will be used for the Joint Business Group (KUB).

"KUBs usually have strong capital so they can lift other banks to carry for additional capital," he added.

For information, previously Bank Sumut had made an initial offer or bookbuilding on January 5-18, 2023. Initially, the bank planned to release 2,934,798,300 shares or the equivalent of 23 percent of the total shares after the IPO.