JAKARTA. PT Bank IBK Indonesia Tbk (AGRS) plans to issue as many as 10.42 billion new shares, with a nominal value of IDR 100 per share, with Pre-emptive Rights (HMETD) or rights issue.
Ita Hidayati, Corporate Secretary of AGRS, explained that the plan was carried out through the Limited Public Offering (PUT) III program. The company has not set a price for the rights issue and is still waiting for the decision from Extraordinary General Meeting of Shareholders (EGMS) on January 18, 2021.
"The proceeds from additional capital in this Limited Public Offering III, after deducting the costs of issuance, will all be used by the company for its working capital needs," said Hidayati through an information disclosure on Indonesia Stock Exchange (IDX).
On this occasion, Hidayati added that the share ownership value of the old shareholders, who did not exercise their rights in this LPO III, would be diluted to 48.14%.
For the record, AGRS has also carried out a rights issue of 8 billion new shares at the end of 2019. This corporate action was to support the company's credit expansion program. (KR/VA)