Akulaku to Acquire 20% of Bank Yudha Bhakti Shares
Gradually entered as a steady buyer in two "right issue" actions
Marsya Nabila - 20 May 2019
Akulaku fintech lending startup is to make gradual acquisition over 20.11% of Bank Yudha Bhakti (BBYB) shares. The company just increase the stock to 13.06% from 8.95%.
Quoted from Bisnis.com, Andriyana Muchyana as Bank Yudha Bhakti's Corporate Secretary said, Akulaku enters through the purchase of PT Gozco Capital which previously held 41.04% of Bank Yudha Bhakti shares.
"There are agreements through secondary market and right issue," she added.
Based on Indonesian Stock Exchange, Gozco Capital sold 320.43 million with Rp338 per share in 30 April 2019. After the corporate action, Gozco Capital stock in Bank Yudha Bhakti has risen to 28.24%.
Furthermore, Akulaku will continue to scale up the stock by going steady for Limited Public Offering II (LPO) at the end of this month.
The company updated stock to 499.6 million worth Rp100 per shares. The action is worth Rp168.86 billion. Akulaku is to collect it all to make 20.11% total shares. Other shareholders that didn't claimed to HMETD will be dilluted by 8.11%.
Per 30 April 2019, shareholders structure for Bank consists of Gozco Capital (28.24%), Asabri (21.91%), Asuransi Jiwa Adisarana Wanartha (5.45%), and public for less than 5%, at 31.34%.
Akulaku has claimed its commitment to add up to the core capital up to Rp500 billion this year, through some right issue in gradual by Bank Yudha Bhakti.
After the LPO II, the company will ask for fresh stock through LPO III in the Annual General Meeting of Shareholders (RUPSLB). Akulaku has a big potential to enter as a steady buyer for its ambition.
Along with the fresh fund, the company is confident to take it to the next level with Rp 1 trillion to Rp5 trillion core capital. From the company's publication in March 2019, they have Rp502.91 billion.
Akulaku, based on Startup Report 2018, has over $500 million (more than 7 trillion Rupiah) after the Series D funding from Alibaba in early this year. Akulaku is said to launch peer-to-peer lending product called Asetku.
–Original article is in Indonesian, translated by Kristin Siagian