JAKARTA. PT Allo Bank Indonesia Tbk (BBHI) receives additional capital investments during its third rights issue from CT Corp and Salim Group, as well as other unicorn start-ups, including PT Bukalapak.com Tbk (BUKA), Traveloka, Grab, Carro, and Growtheum Capital.
This third rights issue has been discussed since October 19, 2021. The said corporate action is intended to increase its authorised capital to IDR 6 trillion to meet the criteria of the second tier of Bank Groups based on Authorised Capital, as regulated by the Financial Services Authority.
Aryanto Halawa, Finance, Planning, and Control Division Head of BBHI, explained that those six investors would help to promote the acceleration of Allo Bank’s credit services expansion. Additionally, they will combine the existing financial services, such as PayLater, InstantCash, e-wallet, and digital top-up services in Allo Bank platforms.
“We are excited to launch a credit distribution service in Indonesia that has almost 280 million people, 50% of which do not have any bank accounts. Furthermore, another 15% is categorised as underbanked, having limited access to credit, investment, and insurance products,” Halawa mentioned in the official statement received by idnfinancials.com.
Based on idnfinancials.com data, this third rights issue of BBHI is not only intended to bump up its authorised capital. This corporate action also aims to dilute the shares of PT Mega Corpora (MC) under CT Corp to less than 80% of shares outstanding. MC will then only claim 30% of the newly issued shares, channeling the remaining portions to other strategic investors. (KR/ZH)