Coordinators of PT Timah share offering named<\/p>\n
JAKARTA (JP): The government has appointed British investment
\nbank Barclays Zoette Wedd as the global coordinator for the
\ninitial public offering (IPO) of the state-owned tin mining
\ncompany PT Tambang Timah.<\/p>\n
Agus Haryanto, a spokesman for the ministry of finance, said
\nyesterday that the bank was selected after winning a \"beauty
\ncontest\" held late last month.<\/p>\n
\"Seven international banks were invited to take part in the
\nselection contest and Barclays Zoette Wedd came out as the
\nwinner,\" he said.<\/p>\n
He said that PT Niaga Securities, an affiliate of the
\npublicly-listed Bank Niaga, and PT Pentasena Securities,
\ncontrolled by Siti Hediati, one of President Soeharto's
\ndaughters, had been appointed as the coordinators of the sale of
\nTambang Timah's shares on the domestic market.<\/p>\n
The government plans to list Tambang Timah and the state-owned
\nPT Telekomunikasi Indonesia (Telkom) on both the domestic and
\noverseas capital markets by the end of this year.<\/p>\n
Tambang Timah will be listed on the Jakarta and London stock
\nexchanges, while Telkom will be traded on the Jakarta, London and
\nNew York stock exchanges.<\/p>\n
The two firms will be, respectively, the second and third
\nstate-owned companies to be listed on overseas markets after PT
\nIndosat, which made a successful debut on the New York Stock
\nExchange last October.<\/p>\n
The global coordinators for the sale of Telkom's shares
\ninclude three U.S. investment banks -- Merrill Lynch, Goldman
\nSachs and Lehman -- and Warburg of Britain. Four local securities
\ncompanies -- state-owned PT Danareksa, PT Makindo, PT Bahana and
\nPT Jardine Flemming Nusantara -- have been selected as
\ncoordinators for the sale of Telkom's shares on the domestic
\nmarket.<\/p>\n
Minister of Finance Mar'ie Muhammad said on Monday that the
\nplanned IPOs of the state-owned companies would be similar in
\nnature to that of Indosat.<\/p>\n
Indosat, the provider of international telecommunications
\nservices, sold 35 percent of its shares to the public in the
\nOctober float. Twenty-five percent of the shares sold were
\ncomprised of the government's equity while the other 10 percent
\nwere new shares. (hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/coordinators-of-pt-timah-share-offering-named-1447893297",
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"sponsor": "Okusi Associates",
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