Digital Bank Drop Shares Together, Allo Bank Raised Alone

Jakarta, CNBC Indonesia – In the midst of other digital bank stocks closing lower, shares of digital bank issuer owned by national entrepreneur Chairul Tanjung, PT Allo Bank Indonesia Tbk (BBHI), former Harda Bank, managed to turn green in today’s trading, Wednesday (13/10/2021).

According to data from the Indonesia Stock Exchange (IDX), the Jakarta Composite Index (JCI) penetrated the psychological level of 6,500 by rising 0.78% to the position of 6,536.90.

Today’s transaction value reached Rp 17.79 trillion and trading volume reached 28.83 billion shares.

Foreign investors in the stock market entered the Indonesian stock exchange with a record foreign net purchase of Rp 1.24 trillion in the regular market. Meanwhile, foreigners recorded a net sale in the negotiating market and cash market of Rp 34.66 billion.

The following is the performance of digital bank shares in today’s trading (13/10).

  1. Allo Bank Indonesia (BBHI), shares +1.19%, to Rp 4,260/share

  2. Bank QNB Indonesia (BKSW), -3.37%, to IDR 172/share

  3. Bank Jago (ARTO), -3.54%, to Rp 12,250/share

  4. BRI Agroniaga/Bank Raya (AGRO), -4.15%, to IDR 1,850/share

  5. Neo Commerce Bank (BBYB), -6.83%, to Rp 1,160/share

  6. Bank Capital Indonesia (BACA), -6.92%, to Rp 296/share

  7. Aladin Syariah Bank (BANK), -6.92%, to Rp 2,420/share

  8. International MNC Bank (BABP), -6.98%, to Rp 240/share

Referring to the data above, of the 8 digital bank stocks, only BBHI shares were successfully closed higher, namely 1.19% to Rp 4,260/share. The transaction value of BBHI shares reached Rp 44.12 billion today.

Last Tuesday, BBHI shares became one of the top gainers by closing up 12.27% to Rp 4,210/share. As a result, in a week BBHI shares rose 16.08% and in a month rose 22.77%.

The increase in BBHI shares occurs ahead of Allo Bank Indonesia will hold an extraordinary general meeting of shareholders (RUPLSB) on Friday (10/15/2021).

One of the agendas of the EGMS is to approve the Capital Increase with Pre-emptive Rights (PMHMETD) aka rights issue and an increase in the company’s authorized capital.

Previously, BBHI’s management stated that the number of shares planned to be issued in the Limited Public Offering (PUT) III or rights issue is a maximum of 11,000,000,000 or 11 billion shares with a nominal value of Rp 100 per share.

“This amount is equivalent to 94.15% of the issued and fully paid capital in the company at the time of this information disclosure, at a price that will be determined and announced later in the PMHMETD prospectus with due observance of the applicable rules and regulations,” wrote BBHI management.

PT Mega Corpora has the option to be able to transfer part or all of the Preemptive Rights to which it is entitled to certain investors

Assuming Mega Corpora’s Preemptive Rights can be partially taken up by strategic investors and partially exercised by Mega Corpora and all public shareholders take up the Preemptive Rights, then shareholders who do not exercise their Preemptive Rights will be subject to dilution of ownership of a maximum of 48.49%.

Meanwhile, 4 stocks touched the lower auto rejection limit (ARB) of 7% and entered the stock exchange’s top losers list today. The four stocks are BBYB, BACA, BANK and BABP.

BBYB shares tumbled 6.83%, marking a 5-day losing streak. In a week BBYB shares fell 22.67% and in a month fell 20.27%.

Previously, the fintech company PT Akulaku Silvrr Indonesia, backed by the Alibaba Group owned by Crazy Rich China, Jack Ma, officially became the controller of BBYB.

This was approved in the second Extraordinary General Meeting of Shareholders (GMS) to confirm PT Akulaku Silvrr Indonesia as the controller of BNC on October 8, 2021

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The latest news, mThe BACA management confirmed that there was no standby buyer in the company’s rights issue.

This was conveyed by the President Director of Bank Capital, Wahyu Dwi Aji in his explanation to the stock exchange authority regarding the plan to increase capital with pre-emptive rights (HMETD) or the company’s IV Limited Public Offering.

The company plans to issue a maximum of 20 billion shares with a nominal value of Rp 100. The exercise price has not yet been determined. However, if we refer to the lowest price of BACA’s shares at the beginning of the year, which is Rp. 376/share, the potential funds that can be achieved reach Rp. 7.5 trillion.

CNBC INDONESIA RESEARCH TEAM

[Gambas:Video CNBC]

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