JAKARTA. PT Bank Syariah Indonesia Tbk (BRIS) opts for an issuance of 6 billion units of new shares with pre-emptive rights, also known as a rights issue.
Each share to be issued has a face value of IDR 500. In today’s trading session, BRIS reported stock price opening at IDR 1,550 per share. Therefore, assuming that the company will exercise the same price level in said corporate action, BRIS will gain returns of IDR 9.3 trillion.
Ade Cahyo Nugroho, Director of Finance and Strategy of BRIS, has a plan of utilising the rights issue proceeds to promote its business expansion plan, both organically and inorganically. This expansion will subsequently support the projection of financing growth with the Compound Annual Growth Rate (CAGR) of over 15% by 2025.
“Currently, the capital adequacy ratio (CAR) of Bank Syariah Indonesia sits at 17%. This position aligns with the average CAR of the top 10 national banks and maintains the level of comfort within the market,” Nugroho explained in the official record.
With this rights issue plan on hand, Nugroho believes that BRIS will be able to enhance its CAR and sustain it at 20%. Furthermore, its return on equity (RoE) might be optimised to reach as high as 20%.
Prior to the rights issue, BRIS will need to request approval from the Extraordinary General Shareholders Meeting, which is scheduled to take place on August 23, 2022. (KR/ZH)