JAKARTA (TheInsiderStories) – British Virgin Island’ Liang Xian Ltd., became the shareholder of PT Bank Mayapada Internasional Tbk (IDX: MAYA), after bought 1.47 billion shares with total amount Rp586.41 billion (US$40.44 million), the management reported today (04/05). After the transaction, the new investors will directly hold 12.39 percent the local lender shares.
“The transaction was carried out on March 24,” said president director of the issuer, Hariyono Tjahjarijadi, in a public announcement today.
Early of 2021, Bank Mayapada reported holding a rights issue by released around 5.00 billion shares, with an indicative price Rp400 a unit. Every 5,000 old shares was entitled 3,659 pre-emptive rights and then can converting to one new shares. The lender expect to raise Rp1.99 trillion from the limited public offering.
PT Mayapada Karunia as the main shareholder of the company, has announced would take part in the rights issue by absorbing as much as 1.32 billion shares or at least holds 26.42 percent of the lender shares. The others hold by JPMCB Na-Re Cathay Life Insurance Co. Ltd., 37.33 percent, Galasco Investments Ltd., 12.67 percent, Unity Rise Ltd., 7.31 percent, and public 16.27 percent.
Recently, Taiwanese financial company through its subsidiary, Cathay Life Insurance Co. Ltd., reportedly planned to enlarge its ownership in the bank built by local tycoon, Dato ‘Sri Tahir to above 40 percent. While, Tahir has injected capital of Rp1 trillion in the bank. In details, the capital injection of Rp252,087 billion on April 28 and Rp750 billion on July 1, 2020.
“The placement of these funds strengthens the capital aspect and is part of the company’s phased plan to conduct a limited public offering XIII in 2020 totaling Rp.4.5 trillion,” wrote by the management.
With the fresh funding, the capital of Bank Mayapada rose to Rp20.3 trillion. Earlier, Tahir has injected capital Rp1.00 trillion in 2016, same amount in the 2017, then worth of Rp2.00 trillion in 2018, and another Rp1.00 trillion in 2019. It said, the placement of funds could be converted into a capital deposit of Rp252.08 billion.
Beyond that, the issuer will get an additional capital of Rp750 billion, bringing the total capital injected to Rp4.5 trillion from rights issue. Tahir also have plans to attract strategic partner in the bank.
“I have a big commitment to Bank Mayapada, and because of that I continue to deposit capital,” said Tahir recently.
The issuer was formed on Sept. 7, 1989 and then began the operating commercially on March 16, 1990 and in the same month officially became a commercial bank, followed by the acquisition of a license from Bank Indonesia as a foreign exchange bank in 1993.
In 1995 the the lender changed the name became Bank Mayapada International and in 1997 took the initiative to go public at Indonesia Stock Exchange.
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