Jakarta, Indonesia (News Today) - The Indonesian government has named three securities joint-lead underwriters for the sale of a stake in flag carrier PT Garuda Indonesia through an initial public offering later this year, a minister told reporters Friday.
“The three are PT Bahana Securities, PT Mandiri Sekuritas and PT Danareksa Sekuritas,“ State-Enterprise Mustafa Abubakar said.
The Indonesian government sold a stake in PT Bank Negara Indonesia this week and is planning to sell stakes in Garuda and steel maker PT Krakatau Steel this year as it tries to rein in a budget deficit forecast to be IDR95 trillion ($10.6 billion). Abubakar said the government plans to sell up to a 30% stake of Garuda in late November.
“We are now valuing the company to determine the size and the price of the shares,“ he added.
The Indonesian government is also planning to sell a stake Krakatau Steel through an IPO in the fourth quarter of 2010.
Source : kompas
Thursday, August 19, 2010
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