The deal is the second sell-down in an Indonesian government-owned company this year following the re-IPO of PT Bank Negara Indonesia BNI at the end of July, which raised $774 million, of which about 43% went into the state coffers. The sale cut the governmentÆs stake in BNI from 99.1% to about 73%.
Jasa MargaÆs offering had a slow start, partly due to a set of Indonesian holidays during the roadshow, but the deal picked up pace and, when it closed on Friday, it was more than four...
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