Aiming for Digital Credit, AGRO Issues Rights Totaling Rp 1.1 Trillion

- 22 November 2021 17:05 WIB
Illustration. Graphs on a laptop.
Illustration. Graphs on a laptop.

JAKARTADAILY.ID - Bank Raya Indonesia, a subsidiary of PT Bank Rakyat Indonesia (Persero) Tbk, previously known as PT Bank Rakyat Indonesia Agroniaga Tbk, is preparing to carry out Capital Increases by Granting Pre-emptive Rights (PMHMETD) or rights issues. This corporate action will release 1.054 billion new shares or 4.64 percent of the total issued and paid-up shares.

This rights issue will be held on November 30, 2021, by distributing Pre-emptive Rights (HMETD) to the Company's Shareholders who are registered in the DPS as of the same date. Where every 620,000 old shares of the Company will obtain rights to 30,141 Rights. Each HMETD can be used to buy a share at a price of Rp 1,100 per share. Thus, the Company will obtain funds amounting to Rp 1.159 trillion (equivalent US$ 81,23 million), assuming all Pre-emptive Rights are used.

Acting as a standby buyer in this program is PT BRI Danareksa Sekuritas. Standby Buyer will purchase all Remaining Shares of a maximum of 150.8 million shares. This was revealed in the Prospectus published through the company's official website on Saturday (20 November 2021).

Bank Raya Indonesia Corporate Secretary Hirawan Nur Kustono in a Disclosure of Information published on the Indonesia Stock Exchange website on Friday (19 November 2021) stated that the funds obtained by the Company from the PMHMETD IX proceeds will be used to strengthen capital. The capital referred to is primarily the Company's working capital in the context of disbursing funds in the form of digital-based credit.

Several important dates that need to be noted in relation to AGRO's Right Issue are the listing date for obtaining Preemptive Rights on November 30, 2021. Listing date of Shares on the Indonesia Stock Exchange on December 2, 2021. Delivery of shares resulting from the exercise of Preemptive Rights on December 6 – 10, 2021. Allotment for the subscriber of shares addition on December 13, 2021.

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Editor: Suksmajati Kumara


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