(Indonesia) – Indonesia’s Minister for State Firms, Laksamana Sukardi, has confirmed that the Government will proceed with its planned Initial Public Offering (IPO) for state-owned Bank Mandiri this year.The Government will offer 30 percent of its stake in the IPO, while the bank is also expected to offer some of its shares for sale.
The bank – created from the merger of four state banks in the wake of the 1998 financial crisis – currently has a Government debt of around US$2.6 billion.