Nov 2, 2010

Krakatau Steel IPO price unchanged

State-Owned Enterprises Minister Mustafa Abubakar today confirmed that the SOEs Ministry and underwriters have decided the IPO price of PT Krakatau Steel (KS) unchanged at the level of Rp850 per share.
Bisnis Indonesia, quoting anonymous sources, yesterday said Mustafa has determined to revised up the IPO price from Rp850 per share to Rp950 per share.
But, Mustofa denied the news at Bisnis Indonesia saying SOEs Minister had determined the IPO price unchanged at Rp850 per share.
PT Bahana Securities, PT Danareksa Sekuritas, and PT Mandiri Sekuritas underwrite Krakatau Steel IPO price. "Underwriters are prone to responsible for the IPO final price," Mustafa said yesterday.

Disclosure: No position at the stock mentioned above.

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