Panca Global may control 50% BNP
The rights issue of PT Bank Nusantara Parahyangan (BNP) Tbk may pave the way for PT Panca Global Securities Tbk to control up to 50% shares of the bank.
According to additional information to shareholders of BNP, the share ownership after the rights issue would reflect 50% dilution to existing shareholders (Tatang Hermawan family 63.2% and public 36.8%). Both BNP and Panca Global are listed companies. Under the rights issue agreement, Panca Global is the stand-by buyer.
It is not clear who will be the ultimate shareholders of the bank after the rights issue. Under the Central Bank regulations, ultimate shareholders should take responsibility of bank's liabilities.
Securities and brokerage firm Panca Global's main shareholder is Mr Hendra Hasan Kustarjo with 42%. Meanwhile Tatang Hermawan's family is involved in textile business under the Fujitex Group.
READ MORE!!!
According to additional information to shareholders of BNP, the share ownership after the rights issue would reflect 50% dilution to existing shareholders (Tatang Hermawan family 63.2% and public 36.8%). Both BNP and Panca Global are listed companies. Under the rights issue agreement, Panca Global is the stand-by buyer.
It is not clear who will be the ultimate shareholders of the bank after the rights issue. Under the Central Bank regulations, ultimate shareholders should take responsibility of bank's liabilities.
Securities and brokerage firm Panca Global's main shareholder is Mr Hendra Hasan Kustarjo with 42%. Meanwhile Tatang Hermawan's family is involved in textile business under the Fujitex Group.
READ MORE!!!
posted by yosef at 2:47 PM
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