JAKARTA. The execution price of the rights issue of PT Allo Bank Indonesia Tbk (BBHI) has been set to IDR 478 per share. The management expects this public offering to receive its effective statement from the Financial Services Authority (OJK) today (6/12).
In the prospectus, the said bank, which belongs to Chairul Tanjung, is said to launch a rights issue of 10.5 billion conventional shares of IDR 100 each. It also has determined the fixed price for the offering of IDR 478 per share. Furthermore, 85% of the rights issue proceeds would be channelled to business expansion, particularly in the technology-innovation-based credit field. Then, another 10% would be utilised as investment funds for information technology infrastructures, while the remaining 5% goes to operational development.
In the said rights issue, PT Mega Corpora, as the ultimate shareholder of BBHI of 90% ownership, would only exercise 30% of its portion, amounting to 2,712 billion shares.
The unclaimed shares of the rights issue would be directed to strategic investors that are currently undergoing a due diligence process. The said strategic investors had given their commitment before the effective status of the registration was granted by OJK. (AM/ZH)