Indonesia may use 4 firms to manage overseas offering

Article Abstract:

The Indonesian group handling the privatization of PT Telekomunikasi Indonesia will most likely select four international investment banks to manage the company's global stock offering. Among the more than 15 aspirants, the team will most likely choose Goldman, Sach and Co; Merrill Lynch and Co.; Lehman Brothers and S.G. Warburg and Co. The group is also expected to name two domestic underwriters to handle the stock issue in the Indonesian stock exchanges. The stock issue will generate an estimated $2.5 billion in revenue for PT Telekomunikasi.

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Suharto shakes up finance ministry in wake of disappointing Telkom IPO

Article Abstract:

Indonesian Pres. Suharto replaced Finance Sec. Gen. Jusuf Anwar with Dono Iskandar Djojosubroto in a move that may be connected with the low response to a public offering of PT Telekomunikasi Indonesia stock. Suharto was reportedly dissatisfied with Jusuf's performance at the ministry, which was criticized by brokers for raising only $1.6 billion.

Political aspects, Indonesia

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Lukewarm reception for Telkom's IPO after offer is scaled back is bad omen

Article Abstract:

Observers stated that the small inaugural gains made by PT Telkom's initial public offering remains tenuous. They stated that support for the issue, which is Asia's largest equity offering for 1995, remains extremely soft despite the Indonesian government's decision to decrease the size of the offering and the share price.

Evaluation, Going public (Securities), Initial public offerings

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