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, Bank Negara Indonesia 1946

Tambang Timah's IPO scheduled for October

Article Abstract:

Tambang Timah of Indonesia, a tin mining company, is to sell shares with a simultaneous listing in Jakarta and London. The company claims to the the lowest cost producer in the world, controlling around 20% of global production. Telkom, the state-owned domestic telecommunications group is expected to make its listing in November, with a simultaneous offering in London, Jakarta, and New York.

All Other Metal Ore Mining, Tin Ores, Planning, Tin industry, Tin mining, Tambang Timah Persero P.T.

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, P.T. Telkomunikasi Indonesia Tbk