Two famed fund management firms Fidelity Asset Management and Pheim Asset Management are interested to buy shares of state-owned contractor PT Pembangunan Perumahan (PP) during its initial public offering (IPO).
Speaking in a press statement today, Head of Investment Banking PT Mandiri Sekuritas Iman Rachman said total demand for PP reaches Rp900 billion, 1.7 folds from its size of 1.04 billion shares at Rp560 per share.
Mandiri Sekuritas is one IPO underwriter in collaboration with PT Danareksa Sekuritas and PT DBS Vickers Securities Indonesia. In an underwriting agreement, Mandiri has committed to underwrite 38.92% shares or 404.34 million shares worth Rp226.43 billion which is the largest portion compared to other underwriters.
Danareksa will take 380.59 million shares or 36.63% worth Rp213.13 billion, while DBS has committed to underwrite 207.79 million shares or 20% worth Rp116.36 billion.
Iman explained PT Jamsostek (Persero), one of largest market player in Indonesia stock market, has also committed to buy PP. Offering is scheduled on February 1-3 and listing will be on February 9.
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