TSE, JSX to sign pact

TSE, JSX to sign pact

TOKYO (Kyodo): The Tokyo Stock Exchange (TSE) will sign a
cooperation agreement with the Jakarta Stock Exchange (JSX)
before the end of the year to prepare for the listing of
Indonesian stocks on the TSE, exchange officials said yesterday.

They said the TSE and the Jakarta exchange agreed to sign the
accord when TSE Executive Director Takuo Tsurushima visited
Indonesia from late July to early August.

Indonesia is promoting the privatization of its national
enterprises and their listing on foreign stock exchanges, after
having the telecommunications enterprise PT Indosat listed on the
New York Stock Exchange last year.

This year, it is seeking to have the domestic
telecommunications operator PT Telkom listed on the stock
exchanges in New York and London as well as Jakarta, the
officials said.

Telkom wants to offer US$300 million worth of its shares for
public subscription in Japan this year, although it has no
immediate plans for listing on the TSE, they said.