Bakrie named best issuer

JAKARTA (JP): Euromoney financial magazine has named PT Bakrie Brothers as Indonesia's best issuer of the year and state-owned telecommunications company PT Telkom as Asia's largest equity issuer.

In its December edition "Asia's Best" supplement, Euromoney defines its issuers of the year as the borrowers that get the balance right and have gained the respect of both bankers and borrowers.

Telkom sold some 20 percent of its enlarged shares last year to domestic as well as foreign markets. Euromoney names Telkom's share offering as Asia's largest privatization and largest initial share offering and second largest equity issuer.

It also ranks the share offering of state-owned tin miner PT Tambang Timah as Asia's sixth largest privatization. Tambang Timah sold about 25 percent of its enlarged shares to both domestic and foreign market last year. (rid)