Bank Ina Owned By Conglomerate Anthony Salim Mau Rights Issue Rp1.23 Trillion To Pursue Core Capital Rp3 Trillion

Conglomerate Anthony Salim. (Photo: Dok. Nikkei)

JAKARTA - PT Bank Ina Perdana Tbk (BINA) will carry out a corporate action in the form of a Limited Public Offering III (PUT III) with the mechanism of pre-emptive rights (HMETD) or rights issue. The action will be carried out by the bank owned by conglomerate Anthony Salim in November 2021.

In Bank Ina's prospectus, quoted on Friday, September 17, the company will increase the company's capital with pre-emptive rights (HMETD) alias rights issue by issuing a maximum of 282,718,750 shares with a nominal value of Rp100 per share.

The number of new shares in the Limited Public Offering (PUT) III is a maximum of 4.76 percent of the total issued and fully paid shares in the company. Meanwhile, every holder of 20 old shares whose names are recorded in the company's shareholder register on November 8, 2021 at 16.00 WIB is entitled to one Preemptive Rights.

"Each Preemptive Rights gives the holder the right to buy one new share with an exercise price ranging from Rp.4,200 - Rp.4,380 per share which must be paid in full," Bank Ina's official statement said in the prospectus.

With this exercise price, the issuer bank belonging to the Salim Group will get fresh funds of up to IDR 1.23 trillion. The trading period will start on November 10 to November 16, 2021.

Anthony Salim through PT Indolife Pensiontama as the controlling shareholder stated that he would exercise the Preemptive Rights to which he was entitled. Meanwhile, if the shares are not fully subscribed, the remaining will be allocated to other shareholders.

"If after the allocation there are still remaining shares offered, then the shares will not be removed from the portfolio," explained Bank Ina's management.

Previously, President Director Daniel Budirahayu stated some time ago that the proceeds from the rights issue would be used to improve and accelerate digital projects this year. The current business trend is towards digital.

"We hope to complete a business plan in the form of digital-based banking services before the end of this year," he said.

In the context of implementing the PUT III, the company has obtained approval from its shareholders at the EGMS on June 16, 2021. The results of the meeting's decision include approving the addition of capital through the granting of Pre-emptive Rights of a maximum of two billion ordinary shares with a value of Rp100.

He added that the approval of the rights issue smoothed out the plan to increase core capital to IDR 2 trillion by the end of 2021. The right issue is mandatory from the OJK so that banks can fulfill core capital of IDR 2 trillion this year and IDR 3 trillion in 2022.

To note, the composition of the company's share ownership is effective until August 31, 2021, PT Indolife Pensiontama holds 22.47 percent, PT Gaya Hidup Masa Kini is narrowed 9.98 percent, PT Philadel Terra Lestari controls 7.53 percent, PT Samudera Biru, 16, 51 percent, Trustee Of NS Financial Fund managed by DBS Bank Ltd 10.49 percent, Asean Finacial managed by Liontrust 18.29 percent, and the rest by the public.

The ultimate beneficiary controlling shareholder is the tycoon, Anthony Salim.