JAKARTA (TheInsiderStories) – After integrated with PT Bangkok Bank Indonesia, PT Bank Permata Tbk (IDX: BNLI), announced to releases 88 billion new shares in the second quarter of 2021, announced by the management end of last week. Beside for capital needed, the corporate action also aimed to fulfill the free float requirement.
After acquired by Bangkok Bank Public Co. Ltd., the public ownerships lowered to 1.3 percent. Based on Indonesian regulator, the public listed company must have at least 7.5 percent of total issues and fully paid capital.
In October 2020, Bangkok Bank has run tender offer of Bank Permata shares at Rp1,347 from with total value worth of Rp4 trillion (US$277.77 million). The mandatory tender offer must be carried out by Bangkok Bank, as the new controller of the bank after the acquisition of 89.12 percent of the issuer shares from PT Astra International Tbk (IDX: ASII) and British’ Standard Chartered Plc.
The tender offer made for 26.88 million class A shares and 3.02 billion class B shares of the local lender. These number of shares represents approximately 10.88 percent of the total issued and paid up capital of the company for class A and class B share. On May 20, 2020, Bangkok Bank, Astra, and Stanchard, signed a sale and purchase agreement for the company shares, with valued of Rp33.66 trillion.
Finance director of the bank, Lea Kusumawijaya, said on Friday (03/26), until end of 2020, the capital of Bank Permata has increased from Rp23.1 trillion to Rp42.86 trillion and the capital adequacy ratio rose to 35.7 percent from 19.9 percent. This was mainly contributed by the integration between the two units of Bangkok Bank, which was completed in December 2020.
She explained that the parent has made capital injection in the form of a capital deposit of Rp10.8 trillion. Later, all proceeds from the rights issue, including funds has been injected by Bangkok Bank will be used to strengthen the local lender’ capital. So far, the local lender level has go up to commercial bank business group IV and have a total assets of Rp197.7 trillion, ranked as the eight largest bank in terms of assets.
In 2020, Bank Permata reported the net profit dropped 52 percent to Rp721.59 billion compared to a year ago of Rp1.5 trillion. Actually, the net interest income rose 14.26 percent to Rp.6.81 trillion in annual basis. However, impairment losses on financial assets rose 102 percent to Rp2.17 trillion and eroded the operating profit from Rp1.99 trillion to Rp1.60 trillion.
Written by Editorial Staff, Email: firstname.lastname@example.org