JAKARTA (TheInsiderStories) – A South Korean company, Apro Financial Co. Ltd., settled 77.38 percent shares of PT Bank Dinar Indonesia Tbk (IDX: DNAR). The acquisition valued Rp690.98 billion (US$46.07 million).
The takeover executed on Oct. 25th, as announced in Indonesia Stock Exchange last week. Based on the announcement, Apro Financial bought 1.74 billion shares at Rp396.89 per share. It is higher than Bank Dinar’s 52 weeks share price that ranged around Rp260-368.
Founded in 1999, Apro Financial Co., Ltd. provides consumer credit services in South Korea. It operates 64 branch offices across the ginseng country.
Currently, Bank Dinar’ assets worth Rp2.35 trillion. In third quarter of this year, it booked Rp7.25 billion profit, a surge by 24.14 percent from Rp5.84 billion in the same period last year.
The bank is one of the national foreign exchange private banks established in Jakarta on August 15, 1990. The operating license as a commercial bank is stipulated through a Bank Indonesia letter dated Nov. 22, 1991.
At the beginning of its establishment the Bank was named PT Bank Liman International from Nov. 8, 2012, carried out a rebranding to become Bank Dinar.
As of July 11, 2014, the shares of Bank Dinar are officially traded on the Indonesia Stock Exchange with DNAR stock code.
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