Bank OK seeks Rp 500 billion via rights issue
JAKARTA. PT Bank Oke Indonesia Tbk (DNAR) or Bank OK will launch Limited Public Offering II through a rights issue with a proceed target of Rp 499.68 billion. The proceeds will be used to develop the company's loan disbursement business.
According to a stock exchange filing published this week, Bank OK will issue as many as 2.69 billion shares with a nominal value of Rp 100 per share and an exercise price of Rp 186 per share, seeking a total of Rp 499.68 billion in proceeds.
APRO Financial Co Ltd will act as a standby buyer in the corporate action. APRO currently owns a 92.50% stake in Bank OK, with the remaining ownership held by public investors.
In the rights issue, each shareholder with 13 shares whose name is registered in the company's list of shareholders as of October 20, 2020 is entitled to purchase four new shares with an exercise price of Rp 186.
Existing shareholders that do not exercise their rights in the rights issue will have their ownership diluted by 23.23% after the corporate action. (AM/MS)