{
    "success": true,
    "data": {
        "id": 1014623,
        "msgid": "indosat-gets-cool-response-1447893297",
        "date": "1994-10-05 00:00:00",
        "title": "Indosat gets cool response",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Indosat gets cool response JAKARTA (JP): The state-owned international telecommunications company PT Indosat's public offering received a surprisingly cool response from domestic investors yesterday, the first of its 10- day offering period. A number of counters specially set up at Senayan stadium for the share offering did not receive a significant number of buyers. A scant few investors came to either collect and return order forms.",
        "content": "<p>Indosat gets cool response<\/p>\n<p>JAKARTA (JP): The state-owned international telecommunications<br>\ncompany PT Indosat's public offering received a surprisingly cool<br>\nresponse from domestic investors yesterday, the first of its 10-<br>\nday offering period.<\/p>\n<p>A number of counters specially set up at Senayan stadium for<br>\nthe share offering did not receive a significant number of<br>\nbuyers.<\/p>\n<p>A scant few investors came to either collect and return order<br>\nforms.<\/p>\n<p>The public offering of the company, which will be listed on<br>\nthe Jakarta and New York stock exchanges, had been much awaited<br>\nand many securities brokers feared that investors' priority to<br>\nbuy Indosat shares would cause a decline in share trading on the<br>\nJakarta Stock Exchange (JSX).<\/p>\n<p>Indosat officials at the Senayan counters said that many<br>\ninstitutional buyers had earlier applied directly for the order<br>\nforms to Danareksa Securities, the lead underwriter, before the<br>\npublic offering period.<\/p>\n<p>\"That's why only a few people came here. They are here just to<br>\nreturn the order forms,\" an official said.<\/p>\n<p>Indosat plans to sell 7.75 percent of its 517.75 billion<br>\ncommon stocks on the domestic market and another 27.25 percent in<br>\nNew York.<\/p>\n<p>Indosat's shares, with a face value of Rp 500, will be sold on<br>\nthe domestic market at Rp 7,000 (US$3.29) each during the<br>\noffering period, which will be closed on Oct. 11.<\/p>\n<p>Securities analysts said that Indosat's shares are too<br>\nexpensive compared to shares of a number of other companies which<br>\nare now available on the primary market.<\/p>\n<p>The price earning ratio (PER) of Indosat shares reaches almost<br>\n26 times the company's net earnings per share in 1993, as<br>\ncompared to between nine and 10 times of the other shares during<br>\nan initial public offering, and between 17 and 20 times for old<br>\nbluechips. (hen)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/indosat-gets-cool-response-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}