Shares of Bank Panin Syariah (PNBS) rallied to its peak Rp295 in May 2015 when market participants were speculating about the entry of Dubai Islamic Bank. Dubai Islamic eventually entered the bank with 38.25% shares, but the share price has since fallen sharply to Rp50 only this week. At this price, PNBS has market value of Rp1.2 trillion only, way below its equity as at Sept 30, 2019 (Rp1.68 trillion).To subscribe please click here