JAKARTA – PT Bank Woori Saudara Indonesia 1906 Tbk (SDRA) seeks additional capital by issuing 2.68 billion shares through a rights issue. Edwin Sulaeman, the Director of Bank Woori Saudara, announces this initiative in the information disclosure, quoted Tuesday (8/6).
According to Sulaeman, the funds from the rights issue would be utilised to strengthen capital structure and expand the business. This plan would be effective within at least 12 months after gaining approval from the Extraordinary General Shareholders Meeting held on July 14, 2021, and receiving an effective statement from the Financial Services Authority (OJK).
This corporate action would affect shares’ ownership of SDRA’s stockholders. The stockholders would have their shares diluted should they refuse to use their rights in this corporate action. The portion of dilution has not been specified yet.
As of May 2021, SDRA has 6,580,926,254 shares. Those shares are distributed to Arifin Panigoro 9.6%, Woori Bank Korea 79.88%, and the public (each owning less than 5%) 10,52%. In March 2021, Bank Woori’s equity was recorded at IDR 7.36 trillion, growing from IDR 7.27 trillion in Q1 2020. (LK/ZH)