How Could Bank Banten Strive With No Strategic Investor?

By Editorial Team 28/10/2021
financial analysis
Summary

Reliance Group and Megah Karya Anugrah Group fail to become PT Bank Pembangunan Daerah Banten Tbk’s (BEKS) strategic investors. The implementation of pre-emptive rights to purchase securities (HMETD) or rights issue, which took place on October 14-21, did not provide potential strategic investors enough time. As a result, BEKS could only raise Rp 618 billion from the issuance of 8 billion new shares.

The number is much lower than Bank Banten's target of Rp 1.8 trillion. Previously, the bank planned to issue a maximum of 23.39 billion new C Series shares price at Rp 77 per share.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.