JAKARTA – PT Bank Amar Indonesia Tbk (AMAR) aims to raise fresh funds of IDR 1 trillion via a rights issue of 5,785,272,000 shares of IDR 173 each. The proceeds of this corporate action will be spent on boosting the capital and expanding credit distribution to users.
In the information disclosure quoted Friday (4/2), this corporate action is said to take place in the next two weeks, from February 17 to 23, 2022, after obtaining approval during the Extraordinary General Shareholders Meeting on November 11, 2021. Every party owning 100 old shares will be eligible for purchasing 72 rights issue shares. Tolaram Group Inc (TGI), the controlling shareholder of AMAR, will exercise all of its shares. It will also act as the standby buyer should other shareholders transfer their rights in this corporate action.
The issued shares will equal 41.86% of its issued and paid-up capital after the said corporate action. Currently, AMAR’s authorised capital amounts to IDR 2 trillion, while its issued and paid-up capital of IDR 803.51 billion. TGI owns 30% of the shares, and the public secures another 70%. The stock in portfolio consists of 1,196,490,000,000 shares.
By the end of this corporate action, assuming that TGI is the only participating party in the corporate action, AMAR’s issued and paid-up capital will rise to IDR 1.38 trillion, 59.30% of which will belong to TGI, leaving the public with the remaining 40.70%. The stock in its portfolio will be reduced to 617,962,800,000 shares. (LK/ZH)