The Company, under its previous name PT Maxima Perdana Finance, obtained business license for financial institution from the Minister of Finance of the Republic of Indonesia with Decree No.994/KMK.017/1993 dated December 30, 1993. The company began its operation on June 21, 2003, with a business license based on the Decree of the Minister of Finance of the Republic of Indonesia No. KEP-161/KM.6/2004 dated May 4, 2004 Jo. No. KEP-654/KM.10/2010 dated December 9, 2010.
The Company first listed its shares on the Indonesia Stock Exchange in 2008 with a total of 460,000 shares, then in 2017 the Company conducted a Limited Public Offering I and to issue pre- emptive rights (“Rights”) with a total of 1,583,160,556 shares. On December 28, 2018, the Company obtained effective statement from the Financial Services Authority (“OJK”) to conduct a Public Offering for Capital Increase by Giving Pre-emptive Rights II (“PMHMETD II”) of 3,102,193,089 shares and in January 2019 the Company has issued 3,102,193,089 shares. Therefore, by the end of 2020 the number of outstanding shares of PT Verena Multi Finance, Tbk is 5,687,353,997 shares.
The company was a subsidiary of Mizuho Leasing Co. Ltd., which was part of the Mizuho Leasing Group, one of the leading financial institutions in Japan.The share ownership of Mizuho Leasing Company, Ltd as of December 31, 2020 is 67.44%.
In 2019, the Company merged with an associated entity, PT IBJ Verena Finance, where PT IBJ Verena Finance merged into the Company and the Company turn into a surviving entity. Currently, the Company’s main business activity was financing in the Retail and Corporate sectors.