Bank Jago will issue 3 billion shares in a rights issue
JAKARTA - PT Bank Jago Tbk (ARTO) will conduct a rights issue by releasing IDR 3 billion new shares on January 26 - February 1, 2021. The proceeds will be used for business expansion and investment in information technology infrastructure and human resources.
From the prospectus quoted on Thursday (26/11), current ARTO's authorized capital is IDR 4 trillion and IDR 1.08 trillion of paid-up and issued capital. The shareholder structure includes 37.65% PT Metamorfosis Ekosistem Indonesia (MEI), 13.35% Wealth Track Technology Limited (WTTL), and 49% public.
This plan has two schemes; the first one is followed by all shareholders, the second one is assumed to be followed only by the controlling shareholder. With the first scheme, paid-up capital will increase from IDR 1.08 trillion to IDR 1.38 trillion with the same shareholder structure. Meanwhile, with the second scheme, the paid-up capital from IDR 1.08 trillion will increase to IDR 1.23 trillion; with a shareholder structure of 42.12% MEI, 14.93% WTTL, and 42.95% of the public. (LK/VA)