Artha Securities to sell 70 million shares in Oct 23 IPO
Artha Securities to sell 70 million shares in Oct 23 IPO
JAKARTA: Amidst Indonesia security concern PT Artha Securities said Thursday it plans to sell 70 million shares through an initial public offering between Oct. 23 and Oct. 25, priced at Rp 225 rupiah ($1=Rp 9,215) a share.
The par value of the shares is set at Rp 200 per share.
The shares will be listed on the Jakarta Stock Exchange Nov. 5.
PT Asia Kapitalindo Securities and PT Kapita Sekurindo are acting as the lead underwriters.
The company said the proceeds from the initial offering will be used to strengthen its working capital.
Artha Securities booked Rp 1.75 billion in net profit in 2001, compared with Rp 965.59 million in 2000. -- Dow Jones
Indosat raises bond issue to Rp 1.25 trillion
JAKARTA: PT Indonesian Satellite Corp., or Indosat, said Thursday it will raise the size of its bond offering to Rp 1.25 trillion rupiah ($1=Rp 9,210) from Rp 1 trillion due to strong interest.
"Indosat commissioners have approved our proposal to raise the amount," Indosat's President Director Widya Purnama told reporters.
Indosat officials said Tuesday the bond had been more than twice oversubscribed.
As reported, the Indosat bond is to be issued in four tranches, although amounts for each tranche haven't been fixed. The funds raised from the issue will be used to refinance existing debt and to expand Indosat's cellular business. -- Dow Jones
Nokia beats expectations with third-quarter profits
HELSINKI: Nokia, the world's leading mobile phone maker, reported higher profits in the third quarter of the year, beating expectations and showing that there is still be money to be made in the ailing global telecommunications market.
Net profit increased 16 percent to 881 million euros (US$860 million) from 760 million the year earlier, not counting 306 million euros in one-off charges linked to failed German telecoms operator Mobilcom, and 54 million euros of goodwill amortization. Including these charges, net profit was 610 million, Nokia said in a statement.
Earnings per share (EPS), at 0.18 euros, were ahead of Nokia's own 0.15-0.17 euros target, and also higher than expectations from analysts whose forecasts had centered on 0.1745 euros. -- AFP
Bank Negara Indonesia delays US$100m bond after Bali attack
JAKARTA: State-owned PT Bank Negara Indonesia is postponing its planned US$100 million bond offering following the weekend terrorist attacks in Bali.
The bank has decided to delay the international roadshow for its proposed subordinated debt offering. The bank had originally planned to kick start its investor presentations next week.
"We decided to delay our entry to the market due to unfavorable market sentiment," a bank official told Dow Jones Newswires.
It remains unclear when the marketing roadshow will now take place, the banker added. He only said: "Hopefully next month."
Another source close to the deal said BNI is just delaying the launch of the bond offering and not canceling it.
"The deal is not canceled," said the source. "We just don't have a timeline yet." -- Dow Jones