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.
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