Bank Neo Commerce to offer 5 billion shares
JAKARTA. PT Bank Neo Commerce Tbk (BBYB) would put up the fifth limited public offering (PUT V) or a rights issue of 5 billion shares of IDR 100 each. The proceeds would go to the business development in the form of credit channelling and operational activities.
Quoting the report submitted to Indonesia Stock Exchange (IDX) on Saturday (7/8), Bank Neo Commerce would launch a rights issue in which one preemptive right could earn one new share. These rights would be offered to old shareholders whose names are listed on the Shareholders List by September 21, 2021.
The company claims to have no standby buyer for this action. Thus, once the allocation had been finalised and there are still unused preemptive rights left, the unclaimed stock would remain in the portfolio.
The company projects to have an effective date by the Financial Services Authority (OJK) set to September 9, 2021. The recording in the exchange is scheduled for September 23, 2021. Meanwhile, the trading would take place from September 23 to 30, 2021, moving along with the preemptive rights execution from September 27 to October 4, 2021. (AM/ZH)