KB Financial Announces Entities Absorbing KB Bukopin's (BBKP) Rights Issues, No STIC Eugene - Kitz.my.id

KB Financial Announces Entities Absorbing KB Bukopin's (BBKP) Rights Issues, No STIC Eugene

KB Financial Announces Entities Absorbing KB Bukopin's (BBKP) Rights Issues, No STIC Eugene

A financial conglomerate from South Korea, KB Financial Group Inc. (KBFG) reports a number of details of the absorption of shares carried out by its business entities in absorbing the Limited Public Offering VII of PT Bank KB Bukopin Tbk.  

The new investor who purchased 16.98% of the company's shares, STIC Eugene Star Inc., was not identified in this release as part of the KBFG.

CGSO Senior Managing Director  KB Financial Group, Cho Nam Hoon explained that there are five direct and indirect subsidiaries of KBFG that have exercised pre-emptive rights in Bank KB Bukopin's PUT VII.

KB Kookmin Bank Ltd. as the controlling shareholder of BBKP was observed to be the most dominant in carrying out executions in this PUT VII action with a total of 80.17 billion new shares absorbed (80,170,875,138).

Furthermore, PT KB Finansia Multi Finance sits in second position as a subsidiary of KBFG that has carried out the largest PUT VII by absorbing 540 million shares.

Furthermore, Nam Hoon described the three other KBFG subsidiaries that took part in BBKP's PUT VII action this time including, PT KB Valbury Sekuritas (KB Valbury) with a total of 360 million shares, PT Kookmin Best Insurance (KB Insurance) 180 million shares , and PT Sunindo Kookmin Best Finance (Sunindo KB) with a total of 120 million new shares.

"KBFG holds shares indirectly through its direct subsidiaries, namely KB and indirect subsidiaries, namely KB Valbury, KB Insurance, KB Finansia and Sunindo KB," explained Nam Hoon, quoted on Tuesday (6/6/2023).

Thus, after the transaction, KBFG collected 126.95 billion shares (126,955,736,951) representing 67.57 percent of all shares issued by Bank KB Bukopin.

Previously, BBKP President Director Woo Yeul Lee said that as much as 95 percent of the new shares issued in the corporate action this time were absorbed by foreign investors, one of which was the controlling shareholder of KB Kookmin Bank.

In this PUT VII action, BBKP issued 119.99 billion new series B shares with a total transaction value of IDR 11.99 trillion.

Following the corporate action, Kookmin, which was diluted to 66.88 percent, STIC Eugene Star Inc. (16.98 percent), and the general public decreased from 34 to 16.14 percent of BBKP shareholders.


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