JAKARTA (Yosefardi) – Shares of PT Bank Panin Syariah (PNBS) was traded flat at Rp100 per share on its trading debut this morning.
PNBS, a sharia bank, offered 4.75 billion shares in the initial public offering (IPO) to raise Rp475 billion.
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%.
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.