BRI may sell 30% shares

JAKARTA: The divestment of Bank Rakyat Indonesia's (BRI) shares might reach 30 percent of its total shares, Office of the State Minister for State Enterprises restructuring and privatization deputy head Mahmudin Yassin said.

"We might offer 30 percent of BRI's shares to the public, like we did with Bank Mandiri's offering," he was quoted by detik.com as saying Wednesday. "However, we haven't officially decided the precise portion."

BRI's initial public offering (IPO) will be carried out after Bank Mandiri's IPO, which began Wednesday.

"The government plans to announce the underwriter of BRI's offering next week," he said. --JP