Mandiri to seek IPO approval

Mandiri to seek IPO approval

JAKARTA: State Bank Mandiri will hold a shareholders meeting on
Thursday to seek approval for a planned initial public offering
(IPO) next month.

The deputy of the offices of the State Ministry of State
Enterprises, Mahmuddin Yasin, said on Tuesday that the bank would
sell 15 percent of its shares.

He said that the bank planned to register the IPO plan with
the Capital Market Supervisory Agency (Bapepam) later this week.

Mahmuddin also said that the meeting would also discuss the
bank's capital condition and the appointment of a new board of
directors. -- JP