JAKARTA. UBS AG London divested all of its portion in PT Bank Maybank Indonesia Tbk (BNII) on December 8, 2023.

According to the official statement of BNII management, the divestment is carried out using price of IDR 252 per share. Therefore, UBS AG London may collect funds of up to IDR 3.51 trillion from divestment in BNII.

All portions are transferred to Multi Dynamic Fund, Global Agility Fund, and Vital Solution Fund. Out of these three buyers, Vital Solution Fund takes the most of the portion, amounting to 6.65 billion shares, equal to 8.73% of total outstanding shares of BNII.

The composition of BNII’s shareholders after UBS AG London divested its portion consists of the remaining controller, Sorak Financial Holding, Pte. Ltd., with 45.02% ownership. Then, Maybank Offshore Corporate Services (Labuan), Sdn., Bhd. has another 33.95%, followed by Vital Solution Fund of 8.73%. Retail investors claim another 12.3%, with less than 5% ownership each.

The management of BNII mentioned that this transaction will allow the company to meet the minimum free float requirement of 7.5%. “As dictated in the Regulation of Indonesia Stock Exchange Number I-A regarding Listing of Stock and Equity-Based Securities Other than Stock, issued by publicly listed companies,” the management said in the official statement.

According to IDNFinancials data, BNII’s price opened at IDR 248 per share. Within the past year, BNII’s price has soared 4.20% or 10 points higher. (KR/ZH)