OJK: No Discussions on CIMB Niaga Delisting Option

Jakarta (ANTARA) – The Financial Services Authority (OJK) said there had so far been no discussion with, or consultation submitted to, the regulator about the option of delisting PT Bank CIMB Niaga Tbk (BNGA), in response to recent speculation that the bank’s shares could be removed from the stock exchange.

“We have also been in communication, and it turns out CIMB itself immediately denied it,” OJK Capital Markets, Derivatives and Carbon Exchange Supervision Chief Executive Hasan Fawzi told reporters in Jakarta on Thursday.

Hasan said OJK appreciated the formal denial issued by the parent company, as it helped clarify reports that had previously circulated.

On compliance with the minimum public shareholding, or free-float, requirement, he said the regulator had been engaging intensively with issuers that still needed time to meet the new rule.

OJK is also committed to providing solutions and assistance to issuers as they work to meet the minimum free-float threshold.

Reports circulated on Wednesday (21 October) that CIMB Niaga was planning to delist, with privatisation among the options being considered in response to the minimum free-float requirement.

However, CIMB Group Holdings Berhad, the bank’s parent company, denied the reports.

In a formal statement received in Jakarta on Thursday, CIMB said it had neither made a decision nor submitted a formal proposal concerning the possible privatisation of CIMB Niaga shares.

“With regard to recent media reports, CIMB Group Holdings Berhad firmly denies any plan to privatise CIMB Niaga shares,” the company’s management said.

CIMB Niaga remains an integral part of CIMB’s regional operations, and the group remains committed to continuing its operations in Indonesia.

CIMB also said it would continue to comply with all applicable regulatory requirements, including the minimum free-float requirement, in a timely and structured manner.