construction-company-completes-first-2006-indonesian-ipo-with-international-tranche

Construction company completes first 2006 Indonesian IPO with international tranche

Good growth prospects, profitablity and cheap valuation enables Total Bangun to raise $32.5 million from combined IPO and private placement.
IndonesiaÆs leading construction company Total Bangun Persada has become the first Indonesian company this year to complete an initial public offering that was marketed to both international and domestic investors.

The offer was priced at the bottom of the indicated range to raise a modest $32.3 million, which wasnÆt really enough to put investor interest to a real test. It was still a step up in terms of momentum, however, after two other Indonesian listing candidates in recent weeks cut the size of their offerings aggressively and scrapped their international tranches. One of them û shrimp farmer PT Central Proteinaprima - eventually postponed its IPO altogether.

One observer said investors liked TotalÆs offering because of...
¬ Haymarket Media Limited. All rights reserved.

FinanceAsia has updated its subscription model.

Registered readers now have the opportunity to read 5 articles from our award-winning website for free.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences.

To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222

Article limit is reached.

Hello! You have used up all of your free articles on FinanceAsia.

To obtain unlimited access to our award-winning exclusive news and analysis, we offer subscription packages, including single user, team (2-10 users), or office-wide licences. To help you and your colleagues access our proprietary content, please contact us at subscriptions@financeasia.com, or +(852) 2122 5222