JAKARTA (TheInsiderStories) - Shareholders of PT Bank Dinar Indonesia Tbk (IDX: DNAR) plans to sell 1.74 billion shares or equal with 77.38 percent of ownership to South Korea Apro Financial Co. Ltd. With this sale, Apro Financial should spend Rp 691 billion (US$52.35 million).
Based on the disclosure of information on the Indonesia Stock Exchange, the company set the with averag price of Rp 396.89. The sales price to Apro Dinar Bank Financial Co. Ltd is higher than the closing price of Bank Dinar on 16/11 at Rp 200 per share.
Three majority shareholder Nio Yantony wants to sell 29.16 percent of its shares, Saiful Amir selling 10.58 percent of stake and tycoon Andre Mirza 21.15 percent.
Previously, Financial Service Agency’s chief executive for Banking Supervision Nelson Tampubolon said, Apro Financial will likely be first completed the acquisition of PT Bank Andara and has won commitments Apro to acquire two banks and merge the two banks. Apro Financial already controlled 40% of Bank Andara shares.
“Apro doing due diligence for the two banks. Later depends on them, but this year let Bank Andara finishes first, the important thing we’ve pocketed their commitment to the acquisition of two banks,” He said.
After the acquisition process until the merger of the two banks which acquired completed, Nelson expected, the merged bank comply with capital adequacy ratio (CAR) requirement.
It is expected by the combined banks, namely Bank Dinar and Bank Andara then new merged bank could enter BOOK II. For information until September 2016 Dinar bank’s core capital amounted to Rp 435 billion, while the core capital of Bank Andara semester 1-2016 of Rp 131 billion.
Currently, Bank Dinar is engaged in the retail segment and in the future looking some of the related credit to support infrastructure and construction business. With this acquisition its expecting could allow banks to reach the target until the end of the year. For information, until the end of the year total assets of the bank is targeting of Rp 2.2 trillion with loan portfolio amounting to Rp 1.3 trillion.