BRI's Rights Issue Is Selling Well, Fresh Funds Of IDR 95.9 Trillion Become The Largest In Southeast Asia

Illustration. (Photo: BRI screenshot)

JAKARTA - PT Bank Rakyat Indonesia Tbk. (BRI) has just taken corporate action by issuing 28.2 billion new shares (rights issue) with a total value of IDR 95.9 trillion which is claimed to be oversubscribed.

Of this figure, IDR 54.7 trillion was in the form of government non-cash participation and IDR 41.2 trillion in cash proceeds from public shareholders, of which IDR 27.9 trillion came from foreign shareholders.

BRI President Director Sunarso said this strategic step was intended as an effort to strengthen the company's capital structure as well as to welcome the formation of an ultra micro holding.

“This achievement made history. BRI's rights issue is the largest in Southeast Asia," he said during the opening bell ceremony at the Indonesia Stock Exchange, Wednesday, September 29.

According to Sunarso, the capitalization value collected has also brought the bank with the issuer code of BBRI to the ranks of the global elite.

“This rights issue is also ranked third in Asia, and seventh worldwide. We hope that BRI's corporate action will provide fresh air for capital market transactions in Indonesia," he said.

Sunarso added, with the results of the rights issue, public share ownership can still be maintained above 40 percent in accordance with the set target.

"We will further focus on financial penetration by securing new sources of growth in the micro-segment which will ultimately create added value for all shareholders," he said.

Furthermore, the BRI boss explained that the formation of an ultra-micro holding could bring millions of ultra-micro business players to the top class and make a positive contribution to stakeholders and the national economy.

"All of these achievements were not easy considering that the BRI rights issue process and the formation of an ultra micro holding were carried out in the midst of an economic condition that was still struggling to recover due to the pandemic," he added.

On the same occasion, SOE Minister Erick Thohir revealed that BRI's achievement was an achievement because it occurred when the market was turbulent. So, he said, what was achieved at this time could make the market excited again.

"Through Ultra Micro Holding (UMi), MSMEs can be an important factor in Indonesia's growth considering that 60 percent of the economy is supported by MSMEs," said Erick.