The stockbroker PT Minna Padi Investama Sekuritas Tbk (PADI) will become the majority shareholder of PT Bank Muamalat Indonesia Tbk if the plan to acquire shares in Indonesia's first sharia bank is approved by the Financial Services Authority (OJK). Previously, PADI stated it would control 51 percent of Bank Muamalat's shares with a transaction value of Rp 4.5 percent through a standby buyer mechanism from the rights issue (Hak Membeli Efek Terlebih Dahulu/HTEMD) that will be issued.
Based on the published financial statements as of June 2017, PADI's shareholders are Eveline Listijosuputro, holding 21.55 percent, then Edy Suwarno Al Jap Sing (5.46 percent), and Henry Kurniawan Latief (0.23 percent). The remainder is owned by the public with holdings of less than 5 percent.
The question regarding the acquisition of Bank Muamalat shares is who the investor is behind PADI. This is because Minna Padi's assets are only Rp 478 billion, while the assets of Bank Muamalat to be acquired reach Rp 57.71 trillion.
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy,
but please note that automated translations may contain errors or slight inconsistencies."