bank-negara-raises-774-million-from-placement

Bank Negara raises $774 million from placement

The share sale prices at the low end of the indicative range, but still tops the charts as one of the largest offerings from Indonesia.
PT Bank Negara Indonesia raised $774 million from its share sale yesterday, and if a greenshoe option is exercised, that amount could increase to $880 million.

JPMorgan and Bahana Securities were joint bookrunners for the offering, which is the largest equity deal in Indonesia in 12 years since PT Telkom's IPO in 1995 and the largest follow-on offering ever.

The governmentÆs Ministry of State-Owned Enterprises sold about 3.48 billion shares in Bank Negara, which is the third-largest bank in terms of total assets, loans and customer deposits, for a price of Rp2,050 per share, at the low end of the indicative range of Rp2,050-Rp2,700.

In connection with the follow-on offering, the bank issued up...
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