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.