JAKARTA (Yosefardi) – Bank Panin Syariah (PNBS) will kick off trading of its stocks on Indonesia Stock Exchange (IDX) Wednesday (January 15).
PNBS, a sharia bank, offered 4.75 billion shares in the initial public offering (IPO) to raise Rp475 billion or Rp100 per share.
Bank Panin (PNBN), majority shareholder, will hold 51.28% shares after the IPO, while public investors control 48.72%. After all warrants I are exercised, Bank Panin’s ownership would decline to 46.729%.
The bank will start the trading with market capitalization of Rp964.3 billion. Bank Panin Syariah had total assets and equity of Rp2.6 trillion and Rp421.6 billion respectively as at June 30, 2013. The bank generated net profit of Rp16.93 billion in the first half of 2013.