Update COVID-19 in Indonesia: 1,368,069 confirmed infections, 37,026 deaths (5 March 2021)
6 March 2021 (closed)
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Bank Dinar Indonesia announced to set its share price at IDR 110 per share at the initial public offering (IPO) on the Indonesia Stock Exchange. The company hopes to raise IDR 55 billion (USD $4.6 million) by offering 500 million new shares, or 22.22 percent of its enlarged capital, to the public. Approximately 75 percent of the proceeds will be used for credit disbursement expansion, while the remainder will be used to finance the establishment of nine new offices. Underwriter of the IPO is Andalan Artha Advisindo Sekuritas.
In 2014, Bank Dinar Indonesia targets to disburse credit up to IDR 800 billion (USD $67.2 million), a 47 percentage point increase compared to last year’s loans figure. Regarding loan disbursements, the company focuses on Indonesia’s retail sector.
The bank also aims to increase third-party funds. Per May 2014, these funds had reached IDR 826 billion (USD $69.4 million), almost 88 percent of which stems from deposit accounts.
Bank Dinar currently owns 11 offices but intends to expand this figure to 20 by the end of 2015. Three offices are expected to be opened this year (in Sunter, Serpong and Bintaro).
Listing on the Indonesia Stock Exchange (IDX) is scheduled for 11 July 2014.