Expect The Government And Public Shareholders Of Serap Rights Issue Rp4.13 Trillion, BTN Promises Dividend Distribution

PT Bank Tabungan Negara (Persero) Tbk or BTN will receive funds of IDR 4.13 trillion from the issuance of new shares through pre-emptive rights (HMETD) or rights issue.

President Director of BTN Haru Koesmahargyo said this fund would be used by the company to increase housing financing capacity, especially subsidized housing.

"The government as the majority shareholder will conduct State Capital Participation or PMN of IDR 2.48 trillion and the public portion of IDR 1.65 trillion and will be used to finance subsidized houses," he said in a RDP with Commission VI DPR RI Jakarta, Wednesday 23 November.

He detailed, with this fund, BTN will increase the distribution of houses, which previously distributed 800,000 housing units in 5 years to 1.3 million units. "The amount is IDR 4.13 to tier 1 capital," Haru added.

Meanwhile, his party is currently waiting for the issuance of government regulations (PP) and on November 24, the final price of SOE Minister Erick Thohir will be set. Previously, a discount price range of approximately 15 to 25 percent was set.

As time goes by, Haru continued, BTN will report its performance to shareholders and will be decided on dividends.

"At the GMS, it will be decided whether there will be (dividends). If there is a percentage of dividends that we return to shareholders, both government and public," he continued.

Haru explained, previously in 2020 with minimal capital conditions, BTN did not distribute dividends. Meanwhile, in 2021, BTN distributed 10 percent of the previous year's net profit as dividends.

"And in the future, in relation to increasing expansion and increasing profit, hopefully, it can be even bigger," he concluded.