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