JAKARTA – Shareholders of PT Bank Woori Saudara Indonesia 1906 Tbk (SDRA) approved the management’s plan of rights issue, by issuing 6.4 billion shares. The extra capital from this corporate action will be carried out alongside the increase of authorised capital of the company.

Wiwit Sundari, Head of Compliance Division of SDRA, confirmed that the shareholders had agreed upon the issuance of new shares out of its stock portfolio worth IDR 100 each. “It is carried out following the effective statement of registration by Financial Services Authority (OJK),” she said in the minute of Extraordinary General Meeting of Shareholders (EGMS) quoted Friday (26/1).

EGMS took place yesterday (25/1), and the plan was approved by shareholders representing 8.19 billion shares, or equal to 95.63% of total shares with valid votes issued by the company. So far, the number of shares and the ratio of shareholders eligible for this rights issue IV are yet to be determined.

In addition to this rights issue approval, the shareholders also gave the green light for the increase of authorised capital from IDR 1.5 trillion, which consist of 15 billion shares, to IDR 3 trillion equal to 30 billion shares.

On Friday (26/1), SDRA’s stock was closed at IDR 570 per share. The highest transaction price was recorded at IDR 575, while the lowest hit IDR 560. The transaction volume clocked up to 94,400 shares, recorded within 33 transactions worth IDR 53.21 billion.

As of December 2023, the issuer’s shares were owned by controllers of 84.2%, while non-controllers claim the remaining 15.8% of total 8.58 billion listed shares. The ultimate beneficial owner is Cho Byung Kyu. (LK/ZH)