Government completes Telkom placement

and attracts a large number of new investors to the stock.

Although global equity markets remain turbulent and difficult, an accelerated share placement for PT Telkom enjoyed a remarkably smooth execution to completion on Monday night. Ironically, the 3% government divestment may have also benefited from the fact that some investors re-weighting from the scandal-plagued US view Indonesia as a safe haven to put funds to work.

About 50% of the Rp1.13 trillion $125 million deal comprised new investors and many were said to have participated because they felt they missed an opportunity when the government completed its previous divestment in December. With Bahana Securities and UBS Warburg as joint-lead managers to the new deal, the government sold 312 million shares at Rp3,635, a 3% discount...

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