State-Owned Enterprises Ministry and PT Krakatau Steel (Persero) Tbk have determined the IPO price at Rp850 per share, enabling Indonesia's largest steel manufacturer to snap up Rp2.69 trillion proceed.
Secretary to SEO Ministry Mahmuddin Yasin said referring to the IPO price, Krakatau Steel's IPO obtains 2 folds oversubscribed.
"About 65% of the IPO will be allocated to local investor and the remaining goes to foreign investor," he said today.
Disclosure: No position at the stock mentioned above.
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