Indonesia's Telkom sale raises $600m

Article Abstract:

The Indonesian government revitalised its privatisation programme with two sales in the last quarter of 1996. The government sold 25% of the Bank Negara Indonesia (BNI) in an initial public offer which was 4.5 times subscribed. The government also offered a second tranche of Telkom shares in a private placement which raised $600 million. The Indonesian privatisation progamme will continue in 1997 due to a need to finance debt repayments.

Commercial Banking, State commercial banks, State Banks, Economic policy, Securities, Telkom, Bank Negara Indonesia 1946

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Disappointing Indonesia Telkom offer

Article Abstract:

The government in Indonesia halved the size of the international tranche for PT Telkom, a domestic telecoms company, and reduced the price of shares, due to the lack of international demand. The success of the offer is critical to development of the Indonesian stock market and is expected to set a precedent for further participation in equities by the public in the country.

Management, Telecommunications services industry, P.T. Telkomunikasi Indonesia Tbk

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