Jakarta, CNBC Indonesia – The bank with the largest market capitalization in the capital market (Rp 742 trillion), PT Bank Central Asia Tbk (BBCA), has a business development plan for its subsidiary in a digital bank, PT Bank Digital BCA, to be able to conduct an initial public offering /IPOs).
The plan is open in the next one to two years. This was conveyed by the company in its information disclosure on the Indonesia Stock Exchange (IDX) after receiving questions from the Exchange regarding this matter.
“It is true that the company has a business development plan for its subsidiary, namely BCA Digital for the long term, including a potential IPO in the next 1-2 years,” said BCA Corporate Secretary Raymon Yonarto, in his letter answering the Exchange’s questions, quoted Monday (12/7). .
However, the company explained, the IPO plan will take into account and adapt to market dynamics and future economic developments.
The management of the company confirms that the company follows the provisions of the banking law and refers to the stipulated provisions. In addition, the company also coordinates with banking regulators and related authorities.
The IPO plan was previously submitted by the President Director of BCA, Jahja Setiaatmadja.
If there are no obstacles, in 1-2 years BCA Digital Bank is expected to be able to take the floor in the capital market. However, Jahja has not provided further details regarding the target for the number of shares and the price to be released to the public.
“Yes, in the next 1-2 years,” said Jahja, to CNBC Indonesia, Thursday (1/7/2021).
As is known, BCA Digital Bank is scheduled to launch on July 2, 2021 through the blu application for Android users.
BCA Digital Bank is one of seven banks currently in the process of becoming a digital bank together with PT BRI Agroniaga Tbk, (AGRO), PT Bank Neo Commerce Tbk, (BBYB), PT Bank Capital Tbk (BACA). Then there are also PT Bank Harda Internasional Tbk (BBHI), PT Bank QNB Indonesia Tbk (BKSW) and PT Bank KEB Hana.
BCA Digital Bank is the result of the transformation of PT Bank Royal Indonesia. BCA took over the shares of Bank Royal in November 2019. The value of the takeover was Rp. 988,046,957,182.
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