JAKARTA. PT Bank Aladin Syariah Tbk (BANK) will issue 1.38 billion new shares under the purpose of the capital increase without preemptive rights, or a private placement.
The number of shares offered by BANK in this private placement is equal to 10% of its issued and paid-up capital. Each new share is valued at IDR 100, but the offering price is yet to be determined.
“The proceeds of this private placement, after all costs, will be entirely employed by the company to strengthen its working capital to support business expansion,” the management explained in the information disclosure.
The management of BANK will ask for approval from the shareholders in the Extraordinary General Shareholders Meeting scheduled for July 29, 2022. The private placement will then take place no later than two years after the approval was secured.
Until June 13, 2022, PT Aladin Global Ventures controls 48.01% of BANK’s shares, while the remaining 41.99% is divided among public investors. (KR/ZH)