New shares of AGRO BANK BCIC BJBR BNBA will be issued, which one is good to buy?

ILLUSTRATION. New shares of AGRO BANK BCIC BJBR BNBA will be issued, which one is good to buy?

Reporter: Nur Qolbi | Editor: Adi Wikanto

KONTAN.CO.ID – JAKARTA. PT Bank Rakyat Indonesia Agroniaga Tbk (AGRO), PT Bank Aladin Syariah Tbk (BANK), PT Bank JTrust Indonesia Tbk (BCIC), PT Bank Bumi Arta Tbk (BNBA), and PT Bank Pembangunan Daerah Jawa Barat and Banten Tbk (BJBR) will issue new shares or rights issue. Of these stocks, which one is the most recommended to buy?

Based on data collected by Kontan.co.id, these issuers implement rights issue to obtain business development funds. Starting from increasing credit distribution, increasing productive assets, fulfilling minimum core capital, to development digital banking.

BCIC which released 4.54 billion new shares with an exercise price of Rp 330 per share has reached with data on November 22, 2021. Meanwhile, AGRO which issues 1.05 billion new shares with an exercise price of Rp. 1,100 per share will reach with data on November 26, 2021.

Then, with data BANK and BNBA which respectively implement rights issue as many as 2 billion shares and 750 million shares fell in early December 2021. Meanwhile rights issue BJBR is planned to take place in the first quarter of 2022.

Also read: The JCI prediction on Wednesday (24/11) is corrected again, this is the stock choice for trading

In the middle of the plan rights issue or issuance of new shares, the prices of the shares above tend to weaken. On trading Tuesday, November 23, 2021, BANK’s share price closed at 2,670, down 70 points or 2.55%.

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In the same period, AGRO’s share price at the level of 2,030 fell 70 points or 3.33%. Then, BCIC’s share price at the level of 244 fell 18 points or 6.87%.

BNBA’s share price also weakened to 3,210, down 210 points or 6.14%. Meanwhile, BJBR’s stock price was stagnant at the level of 1,415. However, in the past month, BJBR’s share price fell 10 points or 0.70%.

Panin Sekuritas analyst William Hartanto assessed that the use of funds rights issue which aims for business development will get a positive response from market participants. This is because business expansion shows that the funds will be used for productive activities, compared to the use of funds rights issue to pay off debt.

To choose stock rights issue which is okay, William said, there are several things to pay attention to, especially the exercise price rights issue as well as the presence or absence of standby buyers.

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Reporter: Nur Qolbi
Editor: Adi Wikanto

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