JAKARTA. PT Sinar Mas Multiartha Tbk (SMMA) may become the majority shareholder of PT Bank China Construction Bank Indonesia Tbk (MCOR), after the subsidiary of Sinarmas Group became a standby buyer for Limited Public Offering (PUT) V of MCOR.
MCOR is a result of the merger between PT Bank Windu Kentjana International Tbk and PT Bank Antarctaerah in 2016.
The prospectus issued by the company on 17 October, as quoted by Bisnis Indonesia, revealed that CCB Corporation will issue 32 billion new shares with a nominal value of Rp 100 per share. The total number of new shares is equivalent to 65.80% of the company's total shares after the completion of PUT V.
Every existing shareholder will get pre-emptive rights (HMETD). However, if the shareholders do not use their rights in accordance with their portion, their share ownership will be diluted by 65.80%, and will be taken over by SMMA as the standby buyer.
So far, CCB Corporation is the controlling shareholder of MCOR with 60% ownership or as much as 9.97 billion. (AM/AR)