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    Home » Business » Unveiling Right Issue, BRI To Build The Largest Ultra-Micro Ecosystem In Indonesia
    Business

    Unveiling Right Issue, BRI To Build The Largest Ultra-Micro Ecosystem In Indonesia

    James MartinBy James MartinSeptember 16, 2021No Comments2 Mins Read
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    PT Bank Rakyat Indonesia(Persero) Tbk(IDX:BBRI) has on August 31, 2021 launched a rights issue, with a transaction target of up to IDR 96 trillion. The proceeds from the Rights Issue will be used for establishing an ultra-micro holding company through which BRI will hold 99.99% of the issued and paid-up capital in PT Pegadaian (Persero) and PT Permodalan Nasional Madani (Persero).

    In connection with the Rights Issue, BRI is offering a maximum of 28,2 billion of its Series B shares. The Rights trading period is from September 13-22. During this period, eligible Shareholders will be able to exercise their Rights. Rights Shares will be allotted and/or delivered to eligible Shareholders from September 15-24.

    BRI’s President Director Sunarso said that approximately IDR 54.7 trillion of the proceeds from the Rights Issue will be used in connection with the Ultra Micro Business Combination. Which from the subscription of the Government of the Republic of Indonesia in the form of in-kind contribution (inbreng) of its shares in Pegadaian and PNM as its capital payment for the Rights.

    Sunarso added that the remaining proceeds of the Rights Issue, in the form of cash, will be used for working capital for BRI in order to develop an ultra-micro ecosystem as well as micro and small businesses. The Ultra Micro Business Combination is expected to accelerate BRI to achieve its vision of becoming “The Most Valuable Banking Group in Southeast Asia” and “Champion of Financial Inclusion”.

    Indonesia’s Growing Micro And Ultra-Micro Ecosystems

    Indonesia’s micro and ultra-micro ecosystems have played a crucial role in supporting the country’s economic growth, and BRI has been playing a proactive role in developing these sectors. BRI believes that there are 45 million ultra-micro businesses in Indonesia in 2019, and BRI believes that out of which there were only around 20 million ultra-micro businesses that obtained access to funding from formal sources.

    “Focusing on the ultra-micro ecosystem, we aim to provide ultra-micro customers with wider accessibility to financial institutions. This aligns to our company’s vision to consistently grow the ultra-micro and MSME sectors in Indonesia. We invite investors to take advantage of this opportunity and participate in the huge transformation of ultra-micro ecosystem,” said Sunarso.

    NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA OR JAPAN

    SOURCE-PT Bank Rakyat Indonesia Tbk(BRI)

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