Govt to assign underwriter for Indosat soon: Ministry<\/p>\n
JAKARTA (JP): The government will appoint this week an
\ninternational financial firm as the lead underwriter of PT
\nIndosat's public offering to be launched both on local and
\noverseas markets later this year.<\/p>\n
Yusuf Anwar, the secretary general of the Ministry of Finance,
\nsaid yesterday that at least 10 international securities firms
\nare competing to become the lead underwriter for Indosat.<\/p>\n
PT Indosat is the state-owned international telecommunications
\nmonopoly. As one of the country's most profitable business
\nentities, it is expected to be the first state-owned company to
\noffer shares on an international capital market.<\/p>\n
"The selection is underway and the winner will be announced on
\nFriday," Yusuf said.<\/p>\n
The interested securities companies and investment banks
\ninclude Solomon Brothers, Merrill Lynch, Yamaichi Securities and
\nCS First Boston.<\/p>\n
Yusuf, also the chairman of the committee for the preparation
\nof state-owned companies's partial privatization, said the
\nbidders held a presentation of their underwriting plans early
\nthis month as part of the requirements proposed by the committee.<\/p>\n
Around 35 percent of Indosat's shares will be sold to the
\npublic as part of the government's partial privatization program
\nand the shares will be listed on local and international stock
\nexchanges.<\/p>\n
Indosat's listing will be made on either the New York or
\nLondon stock exchange.<\/p>\n
A number of state-owned companies, including the national flag
\ncarrier Garuda Indonesia, PT Telekomunikasi Indonesia (Telkom),
\nthe company responsible for domestic telecommunication services,
\nand subsidiaries of the State Electricity Company and oil company
\nPertamina, are being prepared to follow Indosat's move. (hen)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/govt-to-assign-underwriter-for-indosat-soon-ministry-1447899208",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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