JAKARTA - PT Verena Multi Finance Tbk (VRNA) is seeking fresh funds of Rp 434.30 billion by issuing 3,102,193,089 shares in a rights issue. The price of each share offered is Rp 140 and the stock source is taken from portfolio shares.
Based on the company's prospectus, each holder of 100 shares listed as shareholders on December 6, 2018 has 120 shares. New shares in the rights issue will be traded on the Indonesia Stock Exchange (IDX) on 12-14 December and 17-18 December, 2018.
PT Bank Pan Indonesia Tbk (BPNP) as the main shareholder said it will not participate in the rights issue. The company and Murniaty Santoso will transfer their rights in the rights issue to IBJ Leasing Co. Ltd (IBJL). Meanwhile IBJL said they will use the rights in corporate actions, including taking shares from both of them.
Funds from the rights issue will be used to purchase IDR 214.30 billion or 80% shares of IBJL Leasing Co.Ltd at PT IBJ Verena Finance and the rest for working capital. The company's authorised capital is IDR 1 trillion, with issued and paid-up capital from PT Bank Pan Indonesia Tbk IDR 148.74 billion, IBJ Leasing Co Ltd IDR 51.67 billion, PT Verena Kapital IDR 24.39 billion, Murniaty Santoso IDR 9.75 billion, Public (each under 5%) Rp. 258.51 billion. (LK)