Indonesia divests BCA stake

Government achieves premium pricing for equity divestment.

The Indonesian government sold its remaining 5.02% stake in Bank Central Asia BCA yesterday September 21, raising Rp219 trillion $214 million from the Bahana Securities and Deutsche Bank led deal. Completion of the transaction means the government has been able to secure premium pricing via its unusual execution method for the second time this year.

As usual, the lead did not know the government's floor price until after it had built an order book. However,...

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