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Bank MNC seeks IDR 633.33 to 711.73 billion via rights issue

15 June 2021 08:05

JAKARTA – PT Bank MNC Internasional Tbk (BABP) arranges its eighth rights issue, offering 14,234,614,922 Series-B shares with the nominal price of IDR 50 each. It would be held from August 16 to 30, 2021.

Based on the prospectus quoted on Tuesday (15/6), this corporate action would be carried out depending on two different conditions. The first one is if the owners of Series IV and Series V Warrants exercised their warrants before August 2020. Another situation is if the owners or those warrants did not exercise their warrants at all.

With the first condition, the Series-B shares’ value would increase by IDR 711.73 billion to IDR 1.03 trillion from the previous IDR 320.52 billion. If the second condition applied, the shares’ value would grow by IDR 633.33 billion to IDR 810.74 billion from the initial IDR 177.41 billion.

Following the first set-up, Bank MNC’s authorised capital would reach IDR 6 trillion. Its issued and paid-up capital for Series-A and B would amount to IDR 2.52 trillion. Series-A stock ownership includes PT MNC Kapital Indonesia Tbk 32.70%, Winfly Ltd 17.42%, and the public (below 5%) 27.37%. Meanwhile, the Series-B stock ownership consists of PT MNC Kapital Indonesia Tbk 12.17% and public (below 5%) 10.35%.

With the second situation, Bank MNC’s authorised capital would still be IDR 6 trillion, but its issued and paid-up capital for Series-A and B would only reach IDR 2.35 trillion. Series-A stock ownership consists of PT MNC Kapital Indonesia Tbk 36.75%, Winfly Ltd 19.57%, and the public (below 5%) 29.67%. Meanwhile, the Series-B stock ownership includes PT MNC Kapital Indonesia Tbk 13.68% and public (below 5%) 0.33%.

The management would allocate the funds gathered from this corporate action to improve its capital, extend its loan capacity digitally, and develop the MotionBanking application. It includes establishing an artificial-intelligence-based credit evaluator and integrating MotionPay and virtual credit. (LK/ZH)

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