JAKARTA (TheInsiderStories) – Singapore-based securities firm, UOB Kay Hian Pte.Ltd., become a new shareholder of PT Bank China Construction Bank Indonesia Tbk (IDX: MCOR). Yesterday the Sinar Mas Group-owned company announced it had issued 21.29 billion new shares worth Rp3.19 trillion (US$220 million).
In this corporate action, the company set a rights issue price of Rp150 per share. Based an official statement on Wednesday (07/22), UOB Kay Hian will own 8.2 percent of the lender’ shares and have spent Rp467 billion to execute the purchased.
According to the President Director of Bank CCB Indonesia, You Wennan, China Constuction Bank Corp., (CCB) maintained its position as major shareholder, owning around 60 percent of the unit’ shares, after completing the capital increase.
Other shareholders are Jonny Wiratatmaja and Kiki Hamidjaja, hold 9.35 percent and 2.29 percent respectively and public 20.16 percent. Previously, PT Sinar Mas Multiartha Tbk (IDX: SMMA) announced would become a standby buyer for this share issuances.
However, the latter intention did not happen. This financial institution owned by the Sinar Mas Group, has been a shareholder of Bank CCB Indonesia since last year.
He said, funds from the rights issue will be used to strengthen the company’ capital structure. The bank plans to upgrade its status to BOOK III level with core capital of more than Rp5 trillion through the issuance of new shares. At present the lender’ core capital is only Rp2.1 trillion.
Prior to the rights issue, Bank CCB Indonesia issued subordinated debt of $50 million to strengthen the company’ capital, purchased by its holding, CCB. The bank was the result of a merger between two local entities, PT Bank Windu Kentjana International Tbk and PT Bank Antarctaerah on Nov. 30, 2016.
Until now, the lender has 95 offices spread across cities in Indonesia such as Jakarta, Bandung, Semarang, Yogyakarta, Surabaya. , Denpasar Bali, Mataram Lombok, Palembang, Bandar Lampung, Batam, Pekanbaru, Pontianak, Makassar and Pangkal Pinang.
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