Jakarta (Admin). PT Bank Tabungan Pensiunan Nasional (SMBCI) is pursuing a plan to release 267,960,220 shares (28.39%) owned by PT Perusahaan Pengelolaan Aset (PPA) to the public under IPO mechanism in March 2008. The entire proceeds of such offering will be submitted to the state treasury.
The initial share offering will include a portion of 28.39% share ownership from the shares owned by PT PPA (Perusahaan Pengelola Aset) Persero; therefore, the proceeds will be submitted to the state treasury instead of for the Company. The shares will be offered in the price range of Rp 2,700 - 2,950 per share.
CIMB and BNI Securities have been appointed as underwriters of the offering.
Other than the portion owned by PPA, SMBCI's current structure of ownership includes PT Recapital Advisors (22.61%), Fuad Hasan Masyhur (20.00%), PT Danatama Makmur (19.00%), and another 10% owned by PT Bakrie Capital Indonesia, which will be acquired by Texas Pacific Group (TPG) Nusantara in the near future in an acquisition deal to be conducted after IPO process is completed.
SMBCI plans to obtain the effective date of 29th February 2008. The offering period will take place from 3rd to 5th March 2008, while the allotment period will be on 10th March 2008.
(FDT, Source: Media Indonesia Online & Tempo Daily)
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