Officially Changed Name to Allo Bank, CT’s Bank Shares Are Angry!

Jakarta, CNBC Indonesia – While the Composite Stock Price Index (JCI) was still ‘confused’ in determining its movement, a number of stocks recorded the highest price spikes on the stock exchange at the beginning of trading this morning, Monday (5/7/2021).

One of the stocks that became the top gainers this morning was banking issuer stocks Bank owned by PT Mega Corpora controlled by national entrepreneur Chairul Tanjung, PT Bank Harda Internasional Tbk (BBHI) which has just officially changed its name to PT Allo Bank Indonesia Tbk.

IDX data noted, Allo Bank shares soared 16.76%, to Rp 4,040, with transactions of Rp 64.3 billion. BBHI shares have continued to strengthen since Friday (2/7) last week, when they closed up 9.49% to Rp 3,460/share.

In a week this stock soared 34.78%, while in a month ‘flying’ 198.52%.

The latest sentiment influencing the movement of this stock is the official BBHI obtain approval from the Ministry of Law and Human Rights regarding the change of name to PT Allo Bank Indonesia Tbk which is effective as of June 30, 2021.

Director of Allo Bank, Arief Tendeas and Corporate Secretary of Allo Bank, Kemal Suteja Sindi in an official statement on the Indonesia Stock Exchange (IDX) said the approval was based on the Deed of Amendment to the Articles of Association Number 1 dated June 2, 2021 which was made before Dharma Akhyuzi SH, a notary in Jakarta. which has obtained the approval of the Minister of Law and Human Rights (MenkumHAM).

The decree is numbered AHU-0031692.AH.01.02.TAHUN 2021 on June 2, 2021.

Both stated that the company is currently in the process of changing the logo, which will then be approved by the Director General of Intellectual Property of the Ministry of Law and Human Rights.

This step is in order rebranding after the company became part of the Bank Business Group (KUB) under the control of PT Mega Corpora together with PT Bank Mega Tbk (MEGA) and PT Bank Mega Syariah which will complement the banking services offered by the business group under the CT Group.

Currently the company has also obtained an effective statement from the OJK to carry out additional capital with Pre-emptive Rights (PMHMETD) or rights issue with OJK letter No.S-104/D.04/2021 dated June 30, 2021 regarding Notification of the Effectiveness of the Registration Statement which will increase the company’s capital of around Rp. 7.498 trillion.

Dana rights issue will be used to fulfill the bank’s minimum core capital which will provide Allo Bank’s ability to develop business activities in the credit sector with technological innovations known as digital banks.

[Gambas:Video CNBC]

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