JAKARTA. PT Bank Ganesha Tbk (BGTG) has fixed the execution price for 5.59 billion new shares to be issued alongside preemptive rights, also known as a rights issue, to IDR 200 each.
With this price being set, BGTG potentially gains fresh funds of up to IDR 1.12 trillion from a rights issue. All the proceeds will then be used to strengthen the company’s capitalisation, including credit distribution to its users.
For every two shares of BGTG recorded in the Shareholders List by February 24, 2022, the holder will receive one preemptive right. The said party with one preemptive right is eligible to secure one new share issued by the company.
PT Equity Development Investment Tbk (GSMF) has declared its commitment to exercising its rights over 1.67 billion new shares, as stated in the official release of BGTG. Should there be any remaining unclaimed shares, GSMF will also take those portions.
The distribution of preemptive rights is scheduled for February 25, 2022, while the listing of new shares on Indonesia Stock Exchange (IDX) will follow on March 1, 2022. (KR/ZH)