BRI Syariah Floats 2.6bn Shares for Rp510/unit

Bank BRI Syariah has been listed as an issuer at the Indonesia Stock Exchange today, May 9. With the code BRIS, BRI released more than 2.6 billion new shares or 27 percent of its paid up capital.

BRIS IPO price was set at Rp510 per share. The SOE Ministry’s deputy for restructuring and business development said BRI Syariah is the first sharia issuer to be listed at the IDX.

“With the price, BRI Syariah managed to be oversubscribed twice,” president director Moch. Hadi Santoso said here on Wednesday.

BRI Syariah is the subsidiary of Bank Rakyat Indonesia established in November 2008. As of March 2018, BRI Syariah’s assets amounted to Rp94.7 trillion.

Hadi said the IPO proceeds will strengthen the company’s capex and help BRI Syariah included in the BUKU III banks category.