One More Step, Conglomerate Chairul Tanjung Will Become Owner Of Bank Harda Internasional

Harda International Bank Building. (Photo: Harda Bank)

JAKARTA - Chairul Tanjung, through PT Mega Corpora, is one step away from holding 73.71% of the shares of PT Bank Harda Internasional Tbk. This figure is equivalent to 3.08 billion shares of issued and paid-up capital.

Quoted from the disclosure of information on the Indonesia Stock Exchange website, December 4, the management of Bank Harda said that the shares taken belong to PT Hakim Putra Perkasa.

"With this takeover, the status of control will also be transferred to Mega Corpora," wrote the management of Bank Harda.

For the approval of the share transfer, the issuer (BBHI) shares will hold an extraordinary general meeting of shareholders (EGM) on January 29, 2021. It's to ask for the blessing of the company's shareholders.

Before the EGMS, BBHI provides an opportunity for creditors to submit objections to the acquisition plan until December 18, 2020.

And if the EGMS approves the acquisition plan. The parties involved in the share acquisition will submit the complete application documents for the Bank Harda takeover permit and the fit and proper test document to the OJK. Harda Bank estimates that it can get approval for the takeover of shares from the OJK on February 24, 2021.

Previously on October 16, 2020, the majority shareholder of Bank Harda, PT Hakimputra Perkasa, had signed a share sale and purchase agreement of 3.08 billion shares or 73.71 percent of all issued and fully paid shares. With the acquisition, Mega Corpora will become the new controlling shareholder in Bank Harda.

In line with the change in company control, Mega Corpora needs to make a mandatory tender offer to buy the remaining shares of Bank Harda after the completion of the acquisition. This is regulated in POJK No.9 of 2019.

The tender offer price must have been announced to the public since early November 2020, which is IDR 160.26 per share. This price is the average of the highest daily trading price on the Indonesia Stock Exchange for 90 calendar days before the announcement of the takeover plan.

Mega Corpora is the controller of PT Bank Mega Tbk and PT Bank Mega Syariah. The company is also a significant shareholder in two regional banks, namely Bank Sulutgo and Bank Central Sulawesi.

Mega Corpora also intends to invest in Bank Bengkulu. Until 2019, Mega Corpora has assets of IDR 118.35 trillion with equity of IDR 19 trillion.