Jakarta, CNBC Indonesia – Issuer of regional development bank (BPD), PT Bank Pembangunan Daerah Banten Tbk (BEKS) has completed the implementation of the issuance of new shares with pre-emptive rights (HMETD) or rights issue, through Limited Public Offering VII (PUT VII).
In the rights issue held on October 14-21 2021, BEKS managed to obtain public funding of up to Rp 618 billion from the 8 billion new shares that were absorbed.
This amount is lower than the company’s rights issue target, which targets Rp 1.8 trillion by issuing a maximum of 23.39 billion new C series shares with an exercise price of Rp 77 per share.
Bank Banten President Director Agus Syabarrudin said that there were a number of potential investors who did not absorb the company’s rights issue, such as Reliance Group.
“There are a lot of potential investors who are interested in becoming our shareholders, but due to time constraints, not all of them are able to purchase shares. However, God willing, we can also own Bank Banten through the next Limited Public Offering,” said Agus, in an official statement, Wednesday. (27/10/2021).
However, said Agus, the funds collected in the PUT VII exceeded the target set out in the Bank Banten business plan (RBB), which was Rp 600 billion. The acquisition of public funds in the PUT VII increased by 92.8% compared to the acquisition of funds in the PUT VI on January 4, 2021.
He considered, this increase in funding is a tangible form of investor confidence in Bank Banten. This spurred the company’s performance in order to make a profit and have an impact on the economic development of Banten.
“The plan is that the funds obtained will be used for lending around 65 percent and strengthening the company’s financial structure around 35 percent,” he said.
As is known, previously PT Reliance Capital Management (RCM), the holding company of the Reliance Group, expressed interest in becoming a standby buyer in the rights issue of Bank Banten.
Director of Reliance Capital Management, Gatot Subagio said that the company is still conducting a study regarding its readiness to become a stand-by buyer in the corporate action.
“Currently, we are indeed interested in investing in Bank Banten, but we are still conducting studies in various ways, including of course the business potential to be able to determine the right time for Reliance Group in the Bank Banten plan,” said Gatot, to CNBC Indonesia, Friday (8/8). /10/2021).
On Wednesday’s trading, BEKS’s stock price fell 3.85% to a level of Rp 75 per share with a market capitalization value of Rp 3.89 trillion. Since the beginning of the year, Bank Banten’s shares have weakened by 22.45%.