BNBR Receives Shareholder Approval for Rights Issue
PT Bakrie & Brothers Tbk (“BNBR”) has announced that shareholders have approved the company’s plan to conduct a rights issue (Penambahan Modal Dengan Hak Memesan Efek Terlebih Dahulu, or PMHMETD). The approval was obtained through an Extraordinary General Meeting of Shareholders (RUPSLB) held in Jakarta on Friday 27 February 2026.
“The company believes it is necessary to implement the rights issue to optimise the funding structure in relation to the acquisition of PT Cimanggis Cibitung Tollways (CCT),” said BNBR President Director and Chief Executive Officer Anindya N. Bakrie to journalists following the RUPSLB.
Through the PMHMETD mechanism, the company will issue up to 90 billion new E-series shares. The new shares will be drawn from the company’s treasury and will be listed on the Indonesian Stock Exchange (Bursa Efek Indonesia, or BEI) in accordance with applicable regulations.
“The company will use all proceeds from the rights issue for payment of the company’s and/or subsidiary obligations to creditors, as well as for working capital and business development at the company and/or its subsidiaries, including CCT,” added Bakrie.
Bakrie further stated that the company is confident that the rights issue plan will have a positive impact on the company’s financial performance, strengthen operational performance and capital structure.
“Additionally, the capital increase can enhance the company’s ability to undertake business expansion, which in turn will have a positive impact on the company’s profit and is expected to increase the return on investment value for all of the company’s shareholders,” he said.
Following this action, Bakrie continued, the ratio of total debt to total assets will decrease from 84.28% before the rights issue to 67.9% afterwards. This demonstrates that following the rights issue, the composition of the company’s assets financed by equity will be larger, so the contribution to shareholders from the performance of the company’s assets will be greater.
“Additionally, this ratio reduction gives the company higher flexibility for expansion and working capital acquisition through additional external funding if necessary,” Bakrie explained.
The ratio of total debt to total equity will decrease from 536.02% before the rights issue to 211.57% afterwards. This demonstrates that the company’s equity composition will increase relative to its liabilities.
“This ratio becomes more favourable as it balances the company’s capital structure between equity and liabilities,” he said.
Bakrie stated that the rights issue plan will affect existing shareholders who do not exercise their pre-emptive rights to purchase new shares, with share ownership in the company potentially diluted by up to 33.33% following the implementation of the rights issue.