BBYB - PT. Bank Neo Commerce Tbk

Rp 945

-5 (-1,00%)

JAKARTA – PT Bank Neo Commerce Tbk (BBYB) will hold a private placement, issuing 942,168,184 shares of IDR 100 each. This corporate action will be further discussed in the Extraordinary General Shareholders Meeting on Thursday (21/7).

In the short prospectus quoted Wednesday (20/7), it is revealed that Bank Neo will record cash and cash equivalent od IDR 2.49 trillion after this private placement. It is IDR 94.21 billion higher than IDR 2.39 trillion reported prior to this corporate action. Its assets will also rise from IDR 11.33 trillion to IDR 11.43 trillion, while its equity will shift from IDR 2.88 trillion to IDR 2.98 trillion.

The ownership percentage of shareholders will be diluted by 6.13% each. However, the number of shares owned by them will remain unchanged.

Bank Neo records authorised capital of IDR 3 trillion, while its issued and paid-up capital will increase from IDR 1.44 trillion to IDR 1.53 trillion after this private placement. Furthermore, the portion of PT Gozsco Capital will be depleted from 25.66% to 24.09%, while PT Akulaku Silvr Indonesia’s will shrink from 14.81% to 13.90%. Likewise, Yellow Brick Enterprise Ltd’s portion will arrive at IDR 4.85% from 5.17%, as would Rockcore Financial Technology Co Ltd’s from 6.12% to 5.75%, and the public’s from 48.24% to 45.28%.

The private placement proceeds will then be fully utilised to expand its credit distribution. On top of that, it will also be added into the authorised capital, adhering to the Financial Services Authority Regulations No.11/POJK.03/2016. (LK/ZH)