JAKARTA. Reliance Group is announced to be the standby buyer of the rights issue of PT Bank Banten Tbk (BEKS) worth IDR 1.8 trillion, issuing 23.39 billion new Series C shares.
Agus Syabarrudin, President Director of Bank Banten, confirmed the commitment of Reliance Group to support Bank Banten’s business plan. “I can confirm on that,” he told Bisnis.com last week.
In Rights Issue VII, Bank Banten set the par value of IDR 50 each with the offering price of IDR 77 per share. Thus, by the end of this action, the company would collect IDR 1.8 trillion. They all would be utilised to support business expansion, 65% of which would go to credit channelling, while the other 35% would solidify its financial structure.
BEKS’s current shareholders are PT Banten Global Development (BGD) of 78.21% and public investors of 21.79%. Recently, it had been announced that BGD would transfer all its portion to Banten Provincial Government as BEKS decision to turn into a Regionally-Owned Enterprise (BUMD). (AM/ZH)