KB Bukopin had spent its entire rights issue proceeds
JAKARTA. PT Bank KB Bukopin Tbk notified the exchange of their spending of the entire funds from its rights issue of IDR 834.49 billion. It all had been directed to solidify its capital.
Last year, KB Bukopin had launched a rights issue of PUT V, scoring IDR 838.9 billion in total. After subtracting other costs, the net revenue of the said PUT V reached IDR 834.49 billion.
In the information disclosure in the exchange, Wednesday (14/7), KB Bukopin reported the allocation of the PUT V proceeds, which aligned with its prospectus. They include capital strengthening for credit expansion, specifically retail credits for micro, small, and medium businesses and other consumers.
The report regarding the first stage of realisation of proceeds allocation had been sent out on January 15, 2021. The total funds used during July-December 2020 had reached IDR 493.89 billion. The remaining amount of IDR 340.6 billion now had been entirely allocated by June 2021. Therefore, the net PUT V proceeds of IDR 834.49 billion had been realised in their entirety. (AM/ZH)