PT Bank Aladin Syariah Tbk (BANK) plans to increase its capital by providing Pre-emptive Rights or rights issues.

The company plans to issue up to 2 billion new shares. Based on the disclosure of information on Wednesday (21/4), the company will hold an extraordinary general meeting of shareholders on May 26, 2021, to obtain approval for the corporate action.

Other provisions relating to the increase in capital with a rights issue, including the final exercise price and the amount, will be issued in the prospectus. So far, the management has not explained which party will exercise their rights or that there are other potential new parties in the bank's development, which was previously known as the Net Sharia Bank.

The company plans to use the funds from this action to strengthen its capital structure to increase the company's ability to develop business and competitiveness. Along with the growth of business activities, Bank Aladin Syariah's