JAKARTA – PT Bank Jago Tbk (ARTO) plans to issue 200 million shares related to the Management and Employee Stock Ownership Program (MESOP). This corporate action is set to take place after receiving shareholder approval on May 14, 2025.

Tit Siat Fun, ARTO's Director of Compliance, explained that the MESOP is aimed at increasing employees' sense of ownership in the company. "The funds obtained from this private placement will be used for business expansion," she said in an information disclosure on Thursday (27/3).

Currently, Bank Jago’s authorised capital stands at IDR 4 trillion, while its issued and fully paid-up capital is IDR 1.38 trillion, and its shares in the portfolio amount to IDR 2.61 trillion.

The current shareholder structure is as follows: PT Metamorfosis Ekosistem Indonesia (MEI) holds 29.79%, PT Dompet Karya Anak Bangsa (DKAB) holds 21.40%, Wealth Track Technology (WTT) Limited holds 11.68%, GIC Private (GICP) Limited holds 9.02%, Arief Harris Tandjung (President Director) holds 0.34%, the public holds 27.44%, and the MESOP (2023-2028) holds 0.04%.

After the corporate action, the issued and fully paid-up capital will increase to IDR 1.41 trillion, and shares in the portfolio will drop to IDR 2.58 trillion.

The revised shareholder structure will be: MEI at 29.10%, DKAB at 20.89%, WTT at 11.41%, GICP at 8.81%, Arief Harris Tandjung (President Director) at 0.33%, the public at 27.09%, MESOP (2023-2028) at 0.97%, and MESOP (2025-2030) at 1.41%.

Currently, ARTO’s board of commissioners includes Jerry Ng as President Commissioner, Anika Faisal as Commissioner, and Arief T. Surowidjojo and Mahdi Syahbuddin as Independent Commissioners.

Meanwhile, ARTO’s board of directors consists of Arief Harris Tandjung as President Director, Tjit Siat Fun as Director of Compliance, and Sonny Christian Joseph, Umakanth Rama Pai, and Supranoto Prajogo as Directors. (LK/ZH)