JAKARTA. PT Bank Neo Commerce Tbk (BBYB) has named the offering price of the rights issue shares of IDR 300 per share.

With this price fixation, BBYB will potentially rake in fresh funds of IDR 393.5 billion from the capital increase with pre-emptive rights, also known as rights issue. For the record, the number of shares issued by the company through this corporate action is 1.31 billion shares or 9.82% of its issued and paid-up capital.

Every 700 million old shares of BBYB will grant 76.26 million rights, each of which will allow the holders to purchase one new share.

In the official statement, PT Akulaku Silvrr Indonesia as the controlling shareholder of BBYB has declared its commitment to step in as a standby buyer for the rights issue. Akulaku Silvrr has also announced its sufficiency to take over the new shares unclaimed by other investors.

The recording date for the rights issue will fall on July 10, 2024. The distribution will then take place on July 11, 2024, and the listing on Indonesia Stock Exchange (IDX) follows on July 12, 2024. (KR/ZH)