JAKARTA, NNC - PT Bank BRI Syariah is planning to release some of its shares to the public through initial public offering or IPO. The number of shares to be offered is about 30 percent of the total paid-up capital of the company with an estimated proceeds of IDR1 trillion.
President Director of BRI Syariah Hadi Santoso said that the company has expressed its wishes and conducted a mini expose to the Indonesia Stock Exchange (IDX) related to the plan. This IPO plan is also one of the company's strategies to increase its level to Commercial Bank Business Group (BUKU) 3 category.
"The point is this IPO plan is to go up to BUKU 3 and support the credit expansion plan," he said at IDX building in Jakarta, Monday (3/5/2018).
As an IPO requirement, the company will use the audited financial statements for fiscal year 2017. Hadi said based on the financial statements, the amount of core capital of BRI Syariah reaches IDR2.4 trillion. Meanwhile, to increase the level to BUKU 3 category, the company must have a core capital of at least IDR5 trillion.
Hadi added that the company has appointed PT Bahana Sekuritas, PT Danareksa Sekuritas, PT CSLA Sekuritas Indonesia and PT Indo Premier Sekuritas as underwriters of company's IPO plan.
Previously, based on the public expose submitted by the parent company to IDX, the company has obtained an additional capital of IDR1 trillion. Hadi has also confirmed the additional capital. "To enter BUKU 3 category from the IPO plan it is about IDR1 trillion, and from our parent company IDR1 trillion," he added.