JAKARTA. PT Bank IBK Indonesia Tbk (AGRS) will increase its capital by 39.35 percent of the company's total issued and fully paid-up capital. The additional capital through the rights issue is worth around IDR 1.23 trillion.
Bank IBK will issue a maximum of 7.28 billion new shares or 39.35% of the total issued or fully paid capital after the addition of capital. The price for the rights issue is set at IDR 170 per share. All proceeds from the rights issue will be used to increase the bank's working capital, especially for lending.
In a brief prospectus issued by Bank IBK Indonesia, Wednesday (2/6), the main shareholder of AGRS, namely Industrial Bank of Korea (IBK) provided funds of up to IDR 999.99 billion to exercise some of their rights in the rights issue. Meanwhile, PT Anugrah Cipta Mould Indonesia will become a standby buyer if the new shares issued are not absorbed by the shareholders. Standby buyers are required to buy the remaining shares up to a maximum of IDR 22.49 billion.
The rights issue shares will be traded both inside and outside the Indonesia Stock Exchange (IDX) in no less than five working days from June 15-28 2021. The listing of new shares resulting from the implementation of this rights issue will be conducted on the IDX on June 15. (AM/LM)