UBS, Bahana to underwrite BRI sale

UBS, Bahana to underwrite BRI sale

JAKARTA : Indonesia said on Wednesday it has named PT UBS Warburg Indonesia and PT Bahana Securities as lead underwriters for its plan to sell a 30 percent stake in PT Bank Rakyat Indonesia via an initial public offering in the third quarter of this year.

State Enterprises Minister Laksamana Sukardi told reporters the government also plans to sell a stake in natural gas transporting company PT Perusahaan Gas Negara in the third quarter of this year.

He didn't give further details.

BRI and Gas Negara are two of several state-owned companies the government plans to sell this year to raise Rp 8 trillion to use to reduce the budget deficit.

Other sales include about 15 percent of the country's largest bank, PT Bank Mandiri, which is scheduled to be sold in June; and a 49 percent interest in pharmaceutical company PT Indofarma, Laksamana said. --Dow Jones