{
    "success": true,
    "data": {
        "id": 1290369,
        "msgid": "bca-gets-green-light-to-float-shares-on-jsx-despite-losses-1447893297",
        "date": "2000-02-04 00:00:00",
        "title": "BCA gets green light to float shares on JSX despite losses",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "BCA gets green light to float shares on JSX despite losses JAKARTA (JP): The management of the Jakarta Stock Exchange (JSX) will accept the planned listing of Bank Central Asia on the bourse despite the fact that the bank suffered losses in the last two consecutive years. The JSX said Thursday that BCA, once the country's largest banks, had met all the requirements except that which required the bank to book profits in at least two consecutive years before listing.",
        "content": "<p>BCA gets green light to float shares on JSX despite losses<\/p>\n<p>JAKARTA (JP): The management of the Jakarta Stock Exchange<br>\n(JSX) will accept the planned listing of Bank Central Asia on the<br>\nbourse despite the fact that the bank suffered losses in the last<br>\ntwo consecutive years.<\/p>\n<p>The JSX said Thursday that BCA, once the country's largest<br>\nbanks, had met all the requirements except that which required<br>\nthe bank to book profits in at least two consecutive years before<br>\nlisting.<\/p>\n<p>The JSX, however, said the financial loss was understandable<br>\nbecause it had not resulted from mismanagement but rather was due<br>\nto the country's economic crisis, which brought harsh effects to<br>\nmost of the country's business sectors.<\/p>\n<p>The JSX said the exception contained in an initial listing<br>\ncontract signed with BCA on Wednesday was essential to ensure<br>\nthat the profit requirement would not prevent companies with good<br>\nprospects from entering the stock market.<\/p>\n<p>The Indonesian Bank Restructuring Agency (IBRA) will sell<br>\nabout 30 percent of the shares it holds in Bank Central Asia<br>\n(BCA) in an initial public offering (IPO) in February, an<br>\nofficial at the agency said.<\/p>\n<p>IBRA has appointed Lehman Brothers, Merrill Lynch and local<br>\nsecurities firms PT Bahana Securities and PT Danareksa Securities<br>\nto oversee the IPO.<\/p>\n<p>The agency initially planned to sell the BCA shares in<br>\nDecember, but had to delay the offering due to fallout caused by<br>\nthe high-profile Bank Bali scandal.<\/p>\n<p>IBRA, a unit of the finance ministry, took over BCA last year<br>\nafter its owners, the Salim Group and a number of former<br>\npresident Soeharto's children, failed to repay the bank's debts<br>\nto the government.<\/p>\n<p>BCA, one of the country's largest private banks, has total<br>\nassets amounting to some Rp 84.4 trillion and operates some 767<br>\nbranches throughout the country.(hen)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/bca-gets-green-light-to-float-shares-on-jsx-despite-losses-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}