JAKARTA. PT Bank Amar Indonesia Tbk (AMAR) will raise the capital by givng out pre-emptive rights, also known as a rights issue, to collect fresh funds of IDR 1.28 trillion.
The number of shares issued by AMAR in this corporate action will clock up to 4.56 billion units, approximately 24.81% of its issued and paid-up capital. Each new share has a face value of IDR 100.
Then, for every 100 units of AMAR’s old shares, the holder will be granted 33 pre-emmptive rights, each of which could be exchanged with one new share for IDR 280 per share. The original investors that pass up the opportunities to participate in this rights issue will have their portions diluted by up to 24.81%.
Based on the official disclosure, AMAR’s controlling shareholder, Tolaram, has declared its readiness in exercising its entire rights and claiming its allocated shares.
The rights issue will take effect on November 16, 2022. The distribution of the pre-emptive rights will take place on November 29, 2022, followed by the listing of those pre-emptive rights on the next day, on November 30, 2022. Lastly, these rights will be exercised from November 30 to December 6, 2022. (KR/ZH)