JAKARTA - PT Bank QNB Indonesia Tbk (BKSW) sets the offering price to IDR 250 per share in the seventh rights issue that is scheduled to take place from May 15 to 22, 2023. The proceeds from this corporate action are projected to reach IDR 3.68 trillion.

In the short prospectus quoted Thursday (4/5), the management of BKSW confirmed its plan to issue 14.72 billion shares of IDR 250 each. They are equal to 41.87% of BKSW’s issued and paid-up capital post rights issue.

Qatar National Bank (QPSC), the owner of 2.48% of BKES’s shares declared it will exercise its entire rights according to its portion, amounting to 13.61 billion shares. Said shareholder had channelled 656.10 billion shares on November 6, 2018, followed by another IDR 442.23 billion on October 15, 2020, IDR 1.5 trillion on December 22, 2021, and IDR 1 trillion on November 16, 2022, which will be utilised to fund this rights issue. This channelled money will be considered as capital reserves of the core capital.

BKSW will allocate the rights issue proceeds to expand credits to potential users. In December 2022, total assets were recorded at IDR 16.17 trillion, while its total liabilities clocked up to IDR 12.06 trillion, and total equity reaches IDR 4.65 trillion. In December 2021, total assets were reportedly worth IDR 17.70 trillion, followed by total liabilities of IDR 13.67 trillion and total equity of IDR 4.02 trillion. (LK/ZH)