{
    "success": true,
    "data": {
        "id": 1015246,
        "msgid": "indosat-launches-public-offering-1447893297",
        "date": "1994-10-04 00:00:00",
        "title": "Indosat launches public offering",
        "author": null,
        "source": "JP",
        "tags": null,
        "topic": null,
        "summary": "Indosat launches public offering JAKARTA (JP): The much-awaited public offering of the state- owned international telecommunications company PT Indosat starts today, with around 7.75 percent of its 517.75 billion common stocks to be sold at home and another 27.25 percent in New York. Indosat's shares, with a face value of Rp 500 each, will be sold on the domestic market at Rp 7,000 (US$3.20) each during the offering period, which will close on Oct. 11.",
        "content": "<p>Indosat launches public offering<\/p>\n<p>JAKARTA (JP): The much-awaited public offering of the state-<br>\nowned international telecommunications company PT Indosat starts<br>\ntoday, with around 7.75 percent of its 517.75 billion common<br>\nstocks to be sold at home and another 27.25 percent in New York.<\/p>\n<p>Indosat's shares, with a face value of Rp 500 each, will be<br>\nsold on the domestic market at Rp 7,000 (US$3.20) each during the<br>\noffering period, which will close on Oct. 11.<\/p>\n<p>The company, which specializes in international<br>\ntelecommunications services, will be cross-listed on Jakarta and<br>\nNew York stock exchanges. The share offering in the domestic<br>\nmarket is underwritten by the state-owned Danareksa Sekuritas,<br>\nwhile that for the overseas market is coordinated by Merrill<br>\nLynch, a New York-based securities firm.<\/p>\n<p>The price of the shares for the overseas market will be fixed<br>\nin U.S. dollars but its level has not yet been announced.<\/p>\n<p>The public offering of Indosat, the first Indonesian company<br>\nto be listed on the New York Stock Exchange, has been widely<br>\nwelcomed by both foreign and domestic investors.<\/p>\n<p>Many securities analysts are worried that Indosat could absorb<br>\nmost of available funds in the market, thereby causing a setback<br>\nin trading on the stock exchange.<\/p>\n<p>Indosat will be the first listed company, whose shares have a<br>\npar value of Rp 500 (22 U.S. cents) each. The par value of other<br>\nlisted companies' shares are all set at Rp 1,000 each.<\/p>\n<p>The company recorded a turnover of around Rp 765.18 billion<br>\nlast year, an increase from Rp 690.97 billion in 1992. Its net<br>\nprofits increased to Rp 251.49 billion from Rp 237.27 billion.<\/p>\n<p>The company's revenue for the first semester of this year<br>\nreached Rp 431.86 billion, while its net earnings totaled around<br>\n127.55 billion.(hen)<\/p>",
        "url": "https:\/\/jawawa.id\/newsitem\/indosat-launches-public-offering-1447893297",
        "image": ""
    },
    "sponsor": "Okusi Associates",
    "sponsor_url": "https:\/\/okusiassociates.com"
}