BNBR Plans 90 Billion Share Rights Issue After CCT Acquisition

JAKARTA, Investortrust.id — PT Bakrie & Brothers Tbk or BNBR plans a rights issue of up to 90 billion new shares on Monday, Jan 19, 2026 in Jakarta after completing the acquisition of a strategic toll road operator to strengthen its capital structure and support business expansion, a move that could dilute existing shareholders by up to one third.

The company said the corporate action followed the completion of its acquisition of a 90 percent stake in PT Cimanggis Cibitung Tollways through its subsidiary and was aimed at optimizing funding related to the transaction and future growth.

In a disclosure to the Indonesia Stock Exchange, BNBR said proceeds from the rights issue would be used to repay obligations to creditors and to support working capital for the company and its subsidiaries.

The plan will be executed after securing shareholder approval at an extraordinary general meeting scheduled for Friday, Feb 27, 2026.

Management said the decision considered market conditions, company performance, and expected contributions from the newly acquired toll road asset, which was taken over in 2025.

“Accordingly, BNBR considers it necessary to carry out the rights issue to optimize the funding structure related to the CCT acquisition and to support working capital and business development of the company and CCT,” the company said in its official statement.

BNBR said the capital increase was expected to have a positive impact on financial performance by strengthening operations and improving the capital structure.

The company said stronger equity would enhance its ability to expand and improve profitability and investment value for shareholders over the long term.

“Additional capital will improve key financial ratios, including a decline in the ratio of total borrowings to total assets, providing greater flexibility for expansion and access to external funding if needed,” the company said.

BNBR added that the ratio of total borrowings to equity would also decline after the rights issue, reflecting a healthier balance between equity and liabilities.

The company warned that shareholders who do not exercise their rights could face dilution of up to 33.33 percent once the transaction is completed.

According to exchange data, BNBR shares have surged more than 381 percent over the past three months to Rp 212, reflecting strong market enthusiasm ahead of the corporate actions.