Bakrie Group (BNBR) Secures Approval for Rights Issue, Targeting Rp6.5 Trillion in Funds
Jakarta – Holding company Bakrie Group, PT Bakrie & Brothers Tbk. (BNBR), has secured approval to conduct a capital increase through pre-emptive share issuance, commonly known as a rights issue. The approval was obtained through an Extraordinary General Meeting of Shareholders (RUPSLB) held in Jakarta on Friday, 27 February 2026.
“The Company determined it necessary to implement this rights issue to optimise financing structure in relation to the acquisition of PT Cimanggis Cibitung Tollways (CCT),” said BNBR President Director and Chief Executive Officer Anindya N. Bakrie to reporters following the RUPSLB on Friday, 27 February 2026.
Through this rights issue mechanism, the Company will issue up to 90 billion new Series E shares. The new shares will be withdrawn from the Company’s portfolio and listed on the Indonesia Stock Exchange (IDX) in accordance with applicable regulations.
The execution price and target fund amount will be determined on 9 March 2026. However, Anindya stated that BNBR is targeting to raise between Rp4 trillion and Rp6.5 trillion.
All funds raised from the rights issue will be used for debt repayment to creditors on behalf of the Company or its subsidiary entities, as well as for working capital and business development, including the CCT acquisition.
Additionally, he noted that this rights issue can reduce BNBR’s debt-to-equity ratio from the current 500 per cent to 200 per cent. “The purpose of this rights issue is to pay off debt from the acquisition. This will reduce the debt-to-equity ratio from five times to two times, making the company healthier, more liquid, and better positioned to face the future,” added the executive commonly known as Anin.
BNBR Director Roy Hendrajanto M. Sakti added that the rights issue implementation period is targeted to be completed entirely by June 2026.
Anin is confident that this rights issue plan will have a positive impact on the Company’s financial performance, strengthening operational performance and capital structure of BNBR.
“Additionally, the capital increase can enhance the Company’s ability to conduct business expansion, which ultimately will have a positive impact on the Company’s profits and is expected to increase the return on investment value for all shareholders,” said Anin.
Following this action, Anin continued, the ratio of total borrowing to total assets decreased from 84.28 per cent before the rights issue to 67.9 per cent after the rights issue. This demonstrates that after the rights issue, the composition of the Company’s assets financed by equity becomes larger, so the contribution to shareholders’ equity from the Company’s asset performance becomes greater.
The ratio of total borrowing to total equity decreased from 536.02 per cent before the rights issue to 211.57 per cent after the rights issue. This indicates that the composition of the Company’s equity increased compared to its debt.
Anin stated that the rights issue plan will affect shareholders who do not exercise their pre-emptive rights to purchase new shares, with the percentage of shareholding in the Company potentially diluted by up to 33.33 per cent after the pre-emptive rights are exercised.