KONTAN.CO.ID - JAKARTA. PT Bank CIMB Niaga Tbk (BNGA) announced it will conduct a Capital Increase without Preemptive Rights (PMTHMETD) or private placement at the end of January 2024 to comply with the free float stock rules.

In a disclosure of information, BNGA will issue as many as 10.59 million class B ordinary shares with a value of IDR 50 per share, and will be carried out at the end of January 2024.

The execution price of BNGA's private placement is set at IDR 1,575 per share. Management explained that the determination of the PMTHMETD execution price has been set in accordance with the regulations of the Indonesia Stock Exchange (IDX).

Baca Juga: Japan's Top Forex Diplomat Vigilant to Market Impact from BOJ Stimulus Exit

Here is the schedule for the private placement that the company has set:

• Announcement of the PMTHMETD implementation plan to the public and notification to the Financial Services Authority (OJK): January 24, 2024.
• Schedule for the issuance of shares resulting from PMTHMETD: January 31, 2024. 
• Schedule for the listing of shares resulting from PMTHMETD: February 1, 2024.
• Announcement of disclosure of information on the results of the PMTHMETD implementation to the public and notification to the OJK: February 1, 2024. 

Baca Juga: Entertainment Tax Increase, Which Stock Issuers Are Affected?

After the private placement is carried out, the number of BNGA's outstanding shares will increase from 25.13 billion shares to 25.14 billion shares. 

In line with this, BNGA will be able to comply with the IDX rules regarding free float shares of at least 50 million shares or 7.5% of the total listed shares. 

The free float shares owned by CIMB Niaga as of the end of December last year were as many as 1.75 billion shares or equivalent to 7.07%.

Editor: Hasbi Maulana