Indonesia sells out of Danamon

Government raises $274 million from the sale of its 10.5% stake in Bank Danamon.

As part of its ongoing effort to sell off stakes in the nation's banks, the Indonesian government raised Rp2.68 trillion $274 million on Wednesday from the sale of its remaining 10.5% stake in PT Bank Danamon, the country's fifth largest lender by assets. The shares were priced at Rp5,200 each, a 1.9% discount to the Rp5,300 closing share price on the Jakarta Stock Exchange on Wednesday.

The offering was 1.36 times oversubscribed for the 515.22 million...

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