Success Completing IDR80 Trillion Underwriters, BRIDS Becomes the 2022 Leading Underwriter

Jakarta, 31 March 2023 - BRI Danareksa Sekuritas ("BRIDS"), a subsidiary of PT Bank Rakyat Indonesia (Persero) Tbk (IDX: BBRI) and associated entity PT Danareksa (Persero), successfully completed dozens of underwriting of stocks and bonds with a total value of  emission of IDR 80 trillion, which makes BRIDS as Indonesia’s leading underwriters in 2022.

According to Bloomberg data, BRIDS managed to gain a market share of 8.50% for bond underwriting, which placed BRIDS in fifth place as the most active bond underwriters in Indonesia in 2022. As for stock underwriting activities in 2022, BRIDS gained a market share of 5.15%, thus placing BRIDS in sixth place for stock guarantee underwriters in Indonesia.

President Director of BRIDS Laksono Widodo revealed that throughout 2022, BRIDS was able to complete a total of 33 underwriting of bonds, an increase of 37% compared to 24 underwriting in 2021, with a total issuance value that increased significantly by 64% to IDR 71.6 trillion, compared to IDR 43.6  trillion by 2021. On the other hand, BRIDS was also able to complete as many as 4 securities underwriting in the form of an initial public offering (IPO) with a total emission value of IDR 8.8 trillion.

"As a pioneer provider of Investment Banking services in Indonesia, we are committed to supporting our clients in the success of fundraising in the capital market through a comprehensive range of services."  Laksono said.

Some of the deals completed by BRIDS also received international recognition, namely the issuance of BRI Green Bonds worth IDR 5 trillion as the Best ESG Financing of the Year in Indonesia 2022, the issuance of Sukuk by PT Indah Kiat Pulp & Paper Tbk worth IDR 3.2 billion as the Best Local Currency Sukuk of The Year in Indonesia 2022, and the issuance of the Indonesian Government's Global Sukuk worth US$3.5 billion as the Best Islamic Finance Deal 2022.

To strengthen BRIDS' position as one of the best underwriters in Indonesia, Investment Banking Capital Market Director Kevin Praharyawan said that BRIDS would lead several companies to go public this year.  "BRIDS will handle several IPOs of companies engaged in various sectors such as the financial industry, manufacturing, to an IPO from the energy sector which is predicted to be the largest IPO in Indonesia."  added Kevin.