JAKARTA. PT Bank BTPN Tbk (BTPN) will carry out a capital increase with pre-emptive rights, also known as rights issue, of 2.58 billion shares.

The number of issued shares are equal to 24.32% of total issued and paid-up capital of BTPN post-IPO. Each share has a face value of IDR 20 per share and will be offered with an offering price of IDR 2,600 per share.

With this offering price, BTPN will potentially collect proceeds of IDR 6.73 trillion from this rights issue.

According to the prospectus received by IDNFinacials, Sumitomo Mitsui Banking Corporation (SMBC) has declared its readiness to take over the entire portion of its rights. In addition, SMBC will also act as the standby buyer in this corporate action.

Aside from SMBC, PT Bank Central Asia Tbk (BBCA) has also announced its participation for this rights issue, taking over the entire portion of its rights. This action is intended to maintain BBCA’s portion in BTPN at 1.03%.

The conversion ratio of BTPN’s rights issue has been set to 10 billion to 3.21 billion shares. The portions of existing shareholders of BTPN are potentially diluted by up to 24.32% should they choose not to take part in this rights issue.

BTPN’s new shares will be listed on March 4, 2024, while the offering of pre-emptive rights is scheduled to take place from March 4 to 13, 2024. (KR/ZH)