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Indonesian digital lender Allo Bank attracts Bukalapak, Salim Group

Indonesian digital lender Allo Bank is launching an IDR4.8tr (USD335m) rights issue next week, a move that has attracted e-commerce giant Bukalapak and conglomerate Salim Group, according to a Reuters report. Allo Bank, controlled by Indonesian tycoon Chairul Tanjung, plans to sell more than 10 billion shares at IDR478 apiece on January 13-19. According to the report, Bukalapak has agreed to buy IDR1.2tr of Tanjung’s Mega Corpora’s pre-emptive rights while Salim Group’s Indolife Investama Perkasa will buy IDR623bn worth of shares. Allo Bank obtained a digital banking permit last year and will be competing with an increasing number of digital lenders.

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