JAKARTA – PT Bank QNB Indonesia Tbk (BKSW) aims to raise IDR 3.65 trillion of fresh funds in the issuance of 14.72 billion shares for IDR 250 each in a rights issue. This corporate action is scheduled to take place from May 4 to 10, 2023.

Windiarto Tabingin, Director of Bank QNB Indonesia, claimed that the issued shares originate from its stock portfolio. Qatar National Bank (QPSC), the primary shareholder will exercise its entire rights in this corporate action plan.

Prior to this rights issue, Bank QNB’s current authorised capital is IDR 10 trillion, while its issued and paid-up capital reaches IDR 5.10 trillion. The stock in the portfolio is worth IDR 4.89 trillion in total, while its shareholder structure consists of QPSC of 92.48% and the public of 7.52%.

Assuming that QPSC is the one that exercises its rights, after this corporate action, BKSW’s issued and paid-up capital will increase to IDR 8.79 trillion, while the shareholder structure consists of QPSC of 92.48%, the public of 7.52%. Then the stock in the portfolio will be down to IDR 1.21 trillion.

Should all shareholders participate in this rights issue, the shareholder structure may change to QPSC of 95.63% and public investors (below 5%) of 4.37%.

The rights issue plan had been approved by the shareholders during the Extraordinary General Shareholders Meeting on February 16, 2023. (LK/ZH)