$480 million IPO Bank Rakyat Indonesia, Ministry of State-Owned Enterprises, PT Bahana Securities, UBS Investment Bank
Bank Rakyat Indonesia (BRI) has completed its part-privatization from the Indonesian Ministry of State-Owned Enterprises (MSOE) through an initial public offering (IPO) on the Jakarta Stock Exchange. MSOE sold a 40.5% stake in BRI with each share priced at Rp875 for total proceeds of $480 million. The issue also consisted of an international offering under Rule 144A and Regulation S. BRI reserved 8% of the shares on offer for retail investors and its employees. The IPO was managed by UBS Investment Bank and was Indonesia's largest since the Asian crisis.
Value: $480 million
Closed: November 10 2003
Parties involved |
Legal advisers |
|
Bank Rakyat Indonesia (Banks) Issuer |
Makes & Partners
- Jakarta
Yozua Makes Iwan Setiawan Milbank, Tweed, Hadley & McCloy LLP - Hong Kong Anthony Root |
|
Ministry of State-Owned Enterprises Selling shareholder |
Makes & Partners
- Jakarta
Yozua Makes Iwan Setiawan Milbank, Tweed, Hadley & McCloy LLP - Hong Kong Anthony Root |
|
PT Bahana Securities (Speciality & Other Finance) Joint global coordinator |
Hadiputranto, Hadinoto & Partners, (member firm of Baker & McKenzie)
- Jakarta
Sri Indrastuti Hadiputranto Shearman & Sterling LLP - Hong Kong Oren B Azar |
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UBS Investment Bank (Speciality & Other Finance) Joint global coordinator |
Hadiputranto, Hadinoto & Partners, (member firm of Baker & McKenzie)
- Jakarta
Sri Indrastuti Hadiputranto Shearman & Sterling LLP - Hong Kong Oren B Azar |
