Bakrie & Brothers (BNBR) Receives Approval for Rights Issue, to Issue 90 Billion New Shares
Jakarta – PT Bakrie & Brothers Tbk (BNBR) has obtained shareholder approval to conduct a capital increase through a rights issue (Penambahan Modal dengan Hak Memesan Efek Terlebih Dahulu, or PMHMETD). The approval was obtained during an Extraordinary General Meeting of Shareholders (RUPSLB) held in Jakarta on Friday, 27 February 2026.
Chief Executive Officer and President Director of BNBR, Anindya Bakrie, stated that the corporate action represents an optimisation of the company’s financing structure, particularly in connection with the acquisition of PT Cimanggis Cibitung Tollways (CCT).
“The company believes it is necessary to conduct a rights issue to optimise the financing structure related to the acquisition of PT Cimanggis Cibitung Tollways,” said Anindya following the extraordinary general meeting in South Jakarta on Friday, 27 February 2026.
The new shares will be issued from the company’s treasury and will be listed on the Indonesia Stock Exchange (IDX) in accordance with applicable regulations.
Anindya stated that all proceeds from the rights issue will be used for payment of obligations by the company or its subsidiaries to creditors, whilst also strengthening working capital and business development, including at CCT.
“The company will use all funds received from the rights issue for payment of obligations by the company or its subsidiaries to creditors, as well as for working capital and business development within the company or its subsidiaries, including CCT,” he explained.
He expressed confidence that this action will have a positive impact on financial performance, strengthen the company’s capital structure, and increase capacity for business expansion. With a healthier capital structure, the company is expected to drive profit growth and improve returns on investment for shareholders.
“In addition, the capital increase can also enhance the company’s ability to conduct business expansion, which will ultimately have a positive impact on the company’s profits and is expected to improve the return on investment value for all shareholders,” added Anindya.
Following this action, the company’s total debt-to-total assets ratio will decrease from 84.28 per cent before the rights issue to 67.9 per cent after the rights issue. This demonstrates that after the capital increase, the composition of the company’s assets funded by equity will become larger, thereby increasing the contribution to shareholders’ returns from the performance of the company’s assets.
“Furthermore, this ratio reduction provides the company with greater flexibility for expansion and acquisition of working capital from additional external financing, if required,” he said.
The total debt-to-total equity ratio will decrease from 536.02 per cent before the rights issue to 211.57 per cent after the rights issue. This demonstrates that the composition of the company’s equity has increased compared to its debt.
“This ratio becomes better because it balances the company’s capital structure between equity and liabilities,” said Anindya.
He noted that the planned rights issue will affect shareholders who do not exercise their subscription rights to purchase new shares, with the possibility that their shareholding percentage in the company will be diluted by up to a maximum of 33.33 per cent following the completion of the rights issue.