Shares in Bank Syariah Indonesia jump as ADIB denies buy-in talks
The Indonesian bank’s share price rose on Thursday in trade despite denials from ADIB that it is in talks to acquire a 15 per cent stake
Shares of Bank Syariah Indonesia (BSI) surged as much as 5.6 per cent on Thursday after Reuters a day earlier reported on talks about a possible stake acquisition in Indonesia’s top Islamic lender by Abu Dhabi Islamic Bank (ADIB).
Shares of BSI rose to as much as 2,620 rupiah and were later trading at around 2,600 rupiah. Shares of the lender have climbed over 50 per cent year-to-date, giving it a market cap of some $7b, LSEG data showed.
However, ADIB has denied that its in talks to buy a stake in BSI.
On Wednesday, the bank issued the following statement.
“In response to recent speculations in the media suggesting Abu Dhabi Islamic Bank PJSC (ADIB) having an interest in acquiring an Indonesian financial institution (Bank Syariah Indonesia), ADIB strongly denies such reports of being in any negotiations to acquire a stake in such entity,” said ADIB.
