BRI plans roadshow for bond, IPO

BRI plans roadshow for bond, IPO

JAKARTA: Bank Rakyat Indonesia (BRI) on Monday said it plans to
hold a roadshow in several big cities next month to introduce its
upcoming initial public offering and issue of a dollar-
denominated subdebt.

"We are planning the roadshow for early August," BRI president
Rudjito told reporters.

He said the roadshow will be held in Singapore, Hong Kong,
London, New York, Los Angeles and Chicago.

Rudjito didn't offer further details.

The government plans to sell up to a 30 percent stake in BRI
through an initial public offering in November to raise between
Rp 2 trillion and Rp 3 trillion.

The government said it will use proceeds from the IPO to
narrow its budget deficit this year, which is running at 1.8
percent of gross domestic product.

Bank Rakyat is also expected to issue up to US$150 million in
subdebt to increase its capital base. -- Dow Jones