Jul 1, 2010

Krakatau Steel mandates CS & Deutsche

Minister of State-Owned Enterprises Mustafa Abubakar today confirms that government has finally mandated two stellar foreign investment banks Credit Suisse (CS) and Deutsche Bank as lead underwriters of initial public offering of Indonesia's largest steel manufacturer PT Krakatau Steel (Persero).
"We have mandated Credit Suisse and Deutsche Bank to help arranging Krakatau Steel IPO," he said today.
According to him, Krakatau Steel plans to offload 20% stakes into the primary stock market in the third quarter in a bid to raise US$300 million-US$400 million of cash.

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