JAKARTA. The stock portion of PT Equity Development Investment Tbk (GSMF) in PT Bank Ganesha Tbk (BGTG) has been diluted to 34.77%, or approximately 8.336 billion shares, from 50.61% last recorded in September 2022. It occurs after GSMF, as BGTG’s parent company, decided not to participate in the most recent rights issue.

In the information disclosure yesterday (3/1), the management of Bank Ganesha, confirmed that this dilution also cut the portion of Equity Global International Limited as GSMF’s controlling shareholder down to 10.01%. Furthermore, the management revealed that another shareholder that had their portion diluted is UOB Kay Hian Pte Ltd. Its portion is down to 5.79% from 8.43% seen in September 2022.

In the prospectus, Bank Ganesha mentioned that the shareholders that did not take over their allotted pre-emptive rights would have their ownership percentage diluted by a maximum of 31.29%. The management reiterated this condition in the information disclosure quoted Wednesday (4/1).

In its most recent rights issue, Bank Ganesha reportedly issued 7.5 billion shares of IDR 100 each. With this rights issue completed, Bank Ganesha has now fulfilled the minimum core capital requirement of IDR 3 trillion dictated by the Financial Services Authority (OJK). (AM/ZH)