JAKARTA. For the nth time, PT Bank Neo Commerce Tbk (BBYB) will initiate its rights issue plan of IDR 5 trillion to meet the minimum core capital requirement of IDR 3 trillion this year.
In the information disclosure in Indonesia Stock Exchange (IDX) on Wednesday (12/1), the management explained that the company is listed as the bank that is mandated to fulfil the minimum core capital requirement of IDR 3 trillion by December 31, 2022. This is stated in the Financial Authorities Services Regulations (POJK) No. 12/2020 regarding the Commercial Bank Consolidation. As of December 31, 2021, the company announced that it managed to reach the minimum core capital of IDR 2 trillion.
Meanwhile, in 2022, following the POJK, commercial banks must meet the minimum core capital of IDR 3 trillion. Thus, in order to actualise that, Bank Neo will launch a capital increase with preemptive rights, also known as a rights issue VI. It aims to secure fresh funds of IDR 5 trillion in this corporate action.
The step to meet the minimum core capital requirement aligns with the bank’s business plan 2022-2024. “The company and the shareholders are committed to meeting the quota of free-float shares of the total listed shares. Therefore, the rights issue VI will be launched in the first quarter of 2022.
In 2021, BBYB was reported to hold a rights issue IV and V, securing IDR 2.51 trillion in total to meet the core capital requirement of IDR 2 trillion. As a result, by the end of 2021, its authorised capital climbed to IDR 2.8 trillion. (AM/ZH)