Welcoming Ultra Micro Holding, BRI Successfully Jumbo Rights Issue Of IDR 96 Trillion, The Largest In ASEAN

Illustration (Photo: Doc. Antara)

JAKARTA - PT Bank Rakyat Indonesia Tbk. (BRI) reports that investor interest in the company's rights issue is very high. This is reflected in the number of Pre-emptive Rights (HMETD) that have been exercised as of Wednesday, September 22, which has reached 27.48 billion shares.

This figure, if nominalized, is equivalent to Rp. 93.4 trillion or 97.4 percent of the total rights issue.

BRI's President Director Sunarso said that although the proceeds of the achievement were not final, this achievement had made the company make history as the largest rights issue in Southeast Asia.

He even said that this event was the third largest in Asia in terms of rights issue and seventh in the world.

"We are proud that this corporate action was a success, especially in the midst of challenging conditions due to the COVID-19 pandemic," he said when giving a press statement, Friday, September 24.

According to Sunarso, this positive response is an important signal that shows that the market still believes in Indonesia's economic prospects for the future.

In addition, the BRI boss also revealed that the fresh funds obtained would be disbursed for the benefit of the company's business development.

"Funds from the rights issue will later be used for optimizing the ultra-micro ecosystem to accelerate the people's economy," he said.

For information, BRI as the largest bank in Indonesia in terms of assets offers a maximum of 28.21 billion new series B shares with a nominal value of IDR 50 per share, or about 18.62 percent of the issued and fully paid capital after PMHMETD I.

Meanwhile, the projected fund raised from the public through the rights issue is estimated to reach Rp 41.15 trillion.

Sunarso said the amount would be obtained if all public shareholders exercise their rights according to their respective portions. If it is accumulated with inbreng funds from the government, the optimization of BRI's rights issue could be worth Rp 96 trillion.

“This is really fresh money entering the capital market and of course good for Indonesia. We are committed to utilizing these funds to empower MSMEs. As I've said before, 60 percent to 70 percent of the funds will be used to develop the ultra-micro ecosystem and the rest to strengthen BRI's small and micro businesses," he explained.

Due to the strategic efforts made, the bank with the stock code BBRI is optimistic that it will increase the distribution of ultra-micro loans by 14 percent per year.

"BRI needs a new source of growth going forward, namely the ultra-micro segment, so that the company can grow sustainably and make a positive contribution to shareholders and other stakeholders, including ultra-micro businesses and MSMEs," said Sunarso.

As previously reported, BRI is the top ultra micro holding that synergizes the company's business with PT Pegadaian and PT Permodalan Nasional Madani (PNM).

Pegadaian itself is tasked with handling mortgage loan services more efficiently which is expected to anticipate disruptions due to fintech and fiduciary businesses that are now booming.

Meanwhile, PNM is oriented towards fostering the community to do business commercially or empowering people at the grassroots level. PNM is targeted to keep looking for as many people as possible who can be guided, taught, assisted to do business.

Ultra micro business actors who receive PNM assistance are then given pawn-based financing facilities. If they are considered to have good prospects, they will be offered larger funding services through BRI. This ecosystem is trying to be explored and formed through the establishment of an ultra micro holding.