JAKARTA. PT Bank Nationalnobu Tbk (NOBU) will raise fresh funds of up to IDR 900 billion through the capital increase with pre-emptive rights, also known as rights issue.

In this corporate action, NOBU will offer 2.19 billion new shares at most, equal to 29.35% of the total issued and paid-up capital after rights issue. Each new share has a face value of IDR 100, and will be offered for IDR 400 per share.

Every 142 old shares of NOBU will receive 59 pre-emptive rights. Then, each pre-emptive right will grant the holder rights to purchase one (1) new share.

The primary shareholder of NOBU, PT Putera Mulia Indonesia (PMI), will exercise its entire rights that have become its portion, as well as stepping in as the standby buyer. Then, PT Prima Cakrawala Sentosa (PCS), PT Inti Anugerah Pratama (IAP), and PT Star Pacific Tbk (LPLI), will also reportedly exercise their rights over new shares of the company.

In the issued prospectus, NOBU is said to allocate approximately 82.14% of the rights issue proceeds for working capital or operational expenditures (opex). Then, the remaining portion will be used to fund capital expenditure (capex).

The distribution of pre-emptive rights will take place on August 10, 2023, while the listing of new shares on Indonesia Stock Exchange (IDX) will follow on August 11, 2023. (KR/ZH)