Government to sell smaller stake in Indonesia’s Bank Mandiri
(Indonesia) - The Indonesian Government says it plans to sell only 15 percent of its stake in the country's top ranked Bank Mandiri, revising the figure down from the previous target of 30 percent.
State Enterprises Minister Laksamana Sukardi cited global uncertainties due to the war in Iraq and the alert over the SARS epidemic as factors negatively affecting the market outlook.
Laksamana said the government plans to start privatising Bank Mandiri in late May and list its shares on the Jakarta Stock Exchange and Surabaya Stock Exchange in June.
Meanwhile, there was some good news for Bank Mandiri with the successful completion of the sale of a US$300 million tranche of bonds, part of a US$1 billion debt issuance program.
Laksamana said the government plans to start privatising Bank Mandiri in late May and list its shares on the Jakarta Stock Exchange and Surabaya Stock Exchange in June.
Meanwhile, there was some good news for Bank Mandiri with the successful completion of the sale of a US$300 million tranche of bonds, part of a US$1 billion debt issuance program.
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