JAKARTA – PT BPD Bank Banten Tbk (BEKS) seeks additional fresh funds of IDR 1.8 trillion via the seventh rights issue of 23,388,895,089 Series C shares of IDR 77 each. This corporate action is scheduled to start in the next two weeks, from October 14 to 21, 2021.
Quoting its prospectus released earlier today (4/10), 65% of the proceeds would be channelled to credit financing, while the remaining 35% would be used to solidify its capital structure. As of March 2021, BEKS’s liability was recorded reaching IDR 4.013 trillion, higher than the number reported in December 2020 of IDR 3.975 trillion.
PT Banten Global Development (BGD), the primary shareholder of BEKS, had decided not to participate and exercise its rights according to its portion in this corporate action. However, the standby buyer replacement has not yet been specified.
Prior to this corporate action, BEKS’s authorised capital is now at IDR 8 trillion, comprising Series A of IDR 1.07 trillion, Series B of IDR 960.37 trillion, and Series C of IDR 5.96 trillion. Furthermore, its issued and paid-up capital amounts to IDR 3.90 trillion from BGD (consisting of Series B of IDR 588.55 billion and Series C of IDR 1.55 trillion). Public investors also claim Series A of IDR 1.07 trillion, Series B of IDR 371.82 billion, and Series C of IDR 320.57 billion. Meanwhile, the stock in portfolio is made up of Series C of IDR 4.09 trillion. (LK/ZH)