Feb 8, 2011

Bank Jatim eyeing Rp1 trio IPO

PT Bank Pembangunan Daerah Jawa Timur (Bank Jatim) sets a beauty contest on four-five potential underwriters of Rp1 trillion initial public offering (IPO) scheduled this year.
President Director Bank Jatim Muljanto said that there are 4 to 5 securities companies joining the tender. They are Mandiri Sekuritas, CIMB Securities, dan Danareksa Sekuritas.
“Regarding the underwriter, so far we are still conducting a beauty contest. We will appoint one underwriter to handle the IPO,” he said to Bisnis, yesterday.
He also said that the company will appoint the underwriter before general meeting of shareholders (RUPS) scheduled on April.
Muljanto said the IPO of Bank Jatim is predicted to bag proceeds as much as Rp1 trillion. The target is based on the current total shares value of Bank Jatim worth of Rp2 trillion.
“We will offer 25% shares. It means by calculating shares value worth Rp2 trillion then we are confident to get proceeds between Rp500 billion to Rp1 trillion,” he said.

Disclosure: No position at the stock mentioned above.

Print This Article

No comments: