Aug 11, 2010

BNI shares offered at 5% discount

State-Owned Ministry will initiate a book building of 473.89 million shares (green shoe) of publicly listed PT Bank Negara Indonesia Tbk (BNI) into the market today.
"BNI has provided an indicative price at 5% discount from the market level. The book building might be held when the market is close," a local fund manager said Bisnis Indonesia today.
BNI stocks increased 1.68% to IDR3,025 per share during the first trading session. Considering the closing level, the Ministry is estimated to grab cash worth IDR1.36 trillion, higher than initial target of IDR1.23 trillion.
Four joint book runners PT Danareksa Sekuritas, PT Mandiri Sekuritas, PT Bahana Securities, and PT Macquarie Securities have been mandated by the Ministry to manage the book building.

Disclosure: No position at the stock mentioned above.

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