PT Bank Rakyat Indonesia(Persero) Tbk(IDX:BBRI) has on August 31, 2021 launched 
a rights issue, with a transaction target of up to IDR 96 trillion. The 
proceeds from the Rights Issue will be used for establishing an ultra-micro 
holding company through which BRI will hold 99.99% of the issued and paid-up 
capital in PT Pegadaian (Persero) and PT Permodalan Nasional Madani (Persero).

In connection with the Rights Issue, BRI is offering a maximum of 28,2 billion 
of its Series B shares. The Rights trading period is from September 13-22. 
During this period, eligible Shareholders will be able to exercise their 
Rights. Rights Shares will be allotted and/or delivered to eligible 
Shareholders from September 15-24.

BRI's President Director Sunarso said that approximately IDR 54.7 trillion of 
the proceeds from the Rights Issue will be used in connection with the Ultra 
Micro Business Combination. Which from the subscription of the Government of 
the Republic of Indonesia in the form of in-kind contribution (inbreng) of its 
shares in Pegadaian and PNM as its capital payment for the Rights.

Sunarso added that the remaining proceeds of the Rights Issue, in the form of 
cash, will be used for working capital for BRI in order to develop an 
ultra-micro ecosystem as well as micro and small businesses. The Ultra Micro 
Business Combination is expected to accelerate BRI to achieve its vision of 
becoming "The Most Valuable Banking Group in Southeast Asia" and "Champion of 
Financial Inclusion".

Indonesia's Growing Micro And Ultra-Micro Ecosystems

Indonesia's micro and ultra-micro ecosystems have played a crucial role in 
supporting the country's economic growth, and BRI has been playing a proactive 
role in developing these sectors. BRI believes that there are 45 million 
ultra-micro businesses in Indonesia in 2019, and BRI believes that out of which 
there were only around 20 million ultra-micro businesses that obtained access 
to funding from formal sources.

"Focusing on the ultra-micro ecosystem, we aim to provide ultra-micro customers 
with wider accessibility to financial institutions. This aligns to our 
company's vision to consistently grow the ultra-micro and MSME sectors in 
Indonesia. We invite investors to take advantage of this opportunity and 
participate in the huge transformation of ultra-micro ecosystem," said Sunarso.

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UNITED STATES, CANADA OR JAPAN

SOURCE-PT Bank Rakyat Indonesia Tbk(BRI)


Image Attachments Links:

   Link: https://iop.asianetnews.net/view-attachment?attach-id=400903

   Caption: Left to right: PNM President Director Arief Mulyadi, PT Pegadaian 
President Director Kuswiyoto, Minister of State-Owned Enterprises of The 
Republic of Indonesia Erick Thohir, BRI President Director Sunarso, and BRI 
Deputy President Director Catur Budi Harto