Deciphering Alibaba's Maneuvers Ahead of Bank Neo (BBYB) Rights Issue

Akulaku Silvrr Indonesia, one of Alibaba's business arms di Indonesia, keeps increasing its stake in Bank Neo Commerce (BBYB) ahead of the bank's rights issue.

Bisnis.com, JAKARTA – PT Bank Neo Commerce Tbk. (BBYB) shares recovered some of its early year losses, scoring a 13 percent rebound in the past week.

The shares rebounded coincided with the moves of PT Akulaku Silvrr Indonesia, an affiliated entity of the Alibaba Group, which cemented its grip ahead of BBYB stock-coded ban's jumbo rights issue.

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