IFC wants to underwrite PT Indosat share issues<\/p>\n
JAKARTA (JP): The Indonesian government isn't ready to line up
\nthe contestants for the underwriting of PT Indosat's
\ninternational share issue, but at least one foreign interest is
\nlobbying hard to wrap up first place .<\/p>\n
The International Finance Corporation (IFC), an affiliate of
\nthe World Bank, has embarked on a sales promotion campaign to get
\nthe underwriting deal.<\/p>\n
Sudhir Rajkumar of the IFC told a conference here yesterday
\nthat the World Bank's private-sector arm is the best suited to
\nhelp take Indonesian state companies international.<\/p>\n
\"IFC has built a comprehensive in-house knowledge of the
\nIndonesian economy and significant experience with financing
\nIndonesian enterprises,\" Rajkumar told the conference, which
\ndiscussed the trends, options and challenges for Indonesian
\ncompanies wanting to be listed internationally.<\/p>\n
He added that the IFCs sensitivity to Indonesia's development
\npolicy objectives enables it to accurately value a company in the
\nIndonesian context and to reconcile government objectives with
\nthe commercial interests of prospective investors.<\/p>\n
\"Bringing a strategic partner on board can be viewed as the
\nfirst step in the process of preparing a company to meet the
\nrigorous listing requirements of international stock markets,\"
\nRajkumar said.<\/p>\n
He said IFC's multilateral character and reputation has often
\nled to its playing an 'honest broker' role in politically
\nsensitive or high-profile transactions around the world.<\/p>\n
\"IFC therefore can balance the interests of local and foreign
\ninvestors and at the same time provide transparency and
\ncredibility to the entire privatization process,\" he stated.<\/p>\n
Moreover, he added, IFC has been a co-lead in over US$4
\nbillion in international securities offerings over the past five
\nyears.<\/p>\n
IFC, which has an office in Jakarta, has a staff of over 1,200
\nworldwide, from 94 countries and operating in over 30 cities.
\nEmployees include economists, financial analysts, legal advisers,
\ncountry, industry and environmental specialists.(vin)<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/ifc-wants-to-underwrite-pt-indosat-share-issues-1447893297",
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"sponsor": "Okusi Associates",
"sponsor_url": "https:\/\/okusiassociates.com"
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