Ajaib Only Absorbs Part of Bank Bumi Arta's Rights Issue

Summary

PT Bank Bumi Arta Tbk (BNBA) ensures that it will meet the minimum core capital requirement of Rp 3 trillion by the end of this year. BNBA is currently raising capital through a rights issue or issuing new shares with pre-emptive rights (HMETD)

Bank Bumi Arta targets Rp 828.5 billion in fresh funds from the rights issue by issuing a maximum of 616 million new shares, or 18.18 percent of the total issued and fully paid-in shares after the rights issue. The price for the rights issue has been set at Rp 1,345 a share.

Ajaib Group, the largest shareholder of BNBA through PT Takjub Finansial Teknologi (TFT) with 40 percent ownership, said it would only execute part of its rights or a maximum of 24.64 million shares. However, TFT will also not transfer its rights to other parties.

PT Surya Husada Investment (SHI), holder of a 25.45 percent stake in BNBA, will exercise all its rights of 156.8 million shares. Meanwhile, PT Dana Graha Agung (DGA), which holds a 15.27 percent stake, will exercise all of the 94.08 million Preemptive Rights. PT Budiman Kencana Lestari (BKL) will exercise all its rights of 62.72 million preemptive rights from its 10.18 stake in BNBA.

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