Foreign Investor Buys Rp 3.7 Trillion Worth of Nobu Bank Shares in Surprise Deal, Hanwha Life in the Picture?
Main Takeaways
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JAKARTA, Investortrust.id – A foreign investor unexpectedly acquired a 45.6% stake in PT Bank Nationalnobu Tbk, or NOBU, through a negotiated market transaction worth nearly Rp 3.7 trillion ($227 million) on Thursday, June 26, 2025.
Trading data from the Indonesia Stock Exchange showed a block trade of 3.41 billion NOBU shares executed at Rp 1,109–1,110 per share—well above the stock’s closing price of Rp 800. The transaction took place across both trading sessions.
Brokerage firm Ciptadana Sekuritas facilitated the bulk of the purchase, acquiring 3.41 billion shares. On the sell side, Ciptadana released 2.99 billion shares at Rp 1,110, while Verdhana Sekuritas Indonesia offloaded 428.4 million shares at Rp 1,109.
The deal has drawn attention given its scale—equivalent to nearly half of NOBU’s total 7.47 billion outstanding shares—and the sharp premium over market value. Industry insiders are now speculating whether this move marks the long-anticipated entry of Hanwha Life into Nobu Bank.
Hanwha Life’s Interest Rekindled?
South Korean insurer Hanwha Life had previously expressed interest in acquiring a 40% stake in NOBU, or around 2.99 billion shares, aligning closely with the number sold by Ciptadana Sekuritas in this latest transaction.
While no formal confirmation has been made, the similarity in volume has fueled speculation that Hanwha may have initiated its long-awaited entry into Indonesia’s banking sector through Nobu.
Merger with MNC Bank in Limbo
This unexpected share purchase comes as NOBU’s merger plan with PT Bank MNC Internasional Tbk (BABP) remains unresolved. The Financial Services Authority (OJK) said it is still waiting for an official letter from both banks to proceed with regulatory evaluation.
“We are essentially waiting for a formal written submission,” said Dian Ediana Rae, OJK’s Chief Executive for Banking Supervision. “It’s a matter of certainty—once we have a letter, that would signal that the merger process is moving forward again.”
Earlier merger discussions between MNC Bank, controlled by conglomerate Hary Tanoesoedibjo, and Nobu Bank, backed by James Riady, were driven by the OJK’s requirement for all commercial banks to hold a minimum core capital of Rp 3 trillion ($184 million). However, progress has since stalled.
What’s Next for Nobu?
If Hanwha Life is indeed behind the Rp 3.7 trillion acquisition, the Korean insurer could become a powerful strategic investor, potentially altering Nobu Bank’s merger plans or capital structure.
The development also casts new light on whether the Riady-owned bank will still pursue consolidation with MNC Bank or shift strategies under new foreign ownership influence.