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Jakarta, CNN Indonesia –
The Ellen May Institute evaluated PT Bank BRI Syariah Tbk (BREEZE) has the potential to break out of the Indonesian Stock Exchange (TO) After doing fusion with two sharia state bank others, namely PT Bank BNI Syariah (BNIS) and PT Bank Syariah Mandiri (BMS).
Ellen May, an equity analyst, said that of the post-merger ownership composition, the public ownership composition was only 4.4 percent.
Meanwhile, in regulation, the share of public ownership in an open stock is at least 7.5 percent.
Ellen evaluated that the option chosen in the merger process of the bank’s subsidiary BUMN was Preventive Rights (HMETD), also known as Emission of Rights.
The BRIS share ownership composition will be dominated by PT Bank Mandiri (Persero) Tbk, which is 51.2 percent with ownership of 20.9 billion shares or the equivalent of 10.45 trillion IDR.
Followed by PT Bank Negara Indonesia (Persero) Tbk, which is 25 percent owned or 10.22 billion shares. It is estimated that BNI will pay Rp5.11 billion in the purchase.
Meanwhile, PT Bank Rakyat Indonesia (Persero) Tbk said it would buy 7.09 billion shares, which is equivalent to IDR 3.54 trillion or 17.4 percent ownership.
The rest, or 4.4 percent, is held by the public with an ownership value of IDR 897.2 billion or 1.79 billion shares.
“Looking at the composition of ownership, BRIS has the potential to leave IDX. This is because the share of public ownership is 4.4 percent or below the IDX provisions of 7.5 percent for continue to trade. Before the merger, the proportion of the public was 18.47 percent, “he explained as quoted. of his research, Wednesday (10/21).
He further said that after the merger, BRIS would have total assets of Rs 214.7 trillion and that Bank Mandiri Syariah would have the highest assets, which were Rs 114.4 trillion.
“After the merger, the total debt of the merged Islamic bank was worth Rs 52.3 trillion,” he continued.
Ellen said the merger took place because the government saw that the penetration rate of Islamic assets was still low, that is, 8 percent compared to bank assets in general.
In fact, Indonesia is a country with the largest Muslim population in the world.
It is expected that with the merger, Islamic banks will be able to increase the penetration of Islamic assets and be able to compete globally with the 10 largest Islamic banks in the world.
The merger of the three state sharia banks is expected to take effect on February 1, 2021.
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