INDONESIA PRESS-Bank Panin Syariah aims January IPO - Investor Daily
PT Bank Panin Syariah, a sharia unit of lender PT Bank Pan Indonesia, plans to launch an initial public offering (IPO) in January 2014, aiming to raise up to 600 billion rupiah ($50.98 million) by selling 5 billion shares or 50 percent of its enlarged capital
Panin Syariah is expected to set a price between 100-120 rupiah per share, the Investor Daily reported. The firm has appointed OSK Securities Indonesia and PT Evergreen Capital as underwriters.
The company will use 80 percent of the proceeds to finance working capital and remaining 20 percent to build infrastructure, Chief Executive Deny Hendrawati said.
* Note: Reuters has not verified this story and does not vouch for its accuracy. ($1 = 11,770 rupiah) (Compiled by Rin Hindryati; Editing by Anand Basu)
- Malaysia says no evidence missing plane flew hours after losing contact |
- Rescuers seek survivors of NY building collapse; seven dead
- Russia holds war games near Ukraine; Merkel warns of catastrophe |
- White House tried to mediate dispute between Senate, CIA panel: source
- Missing jet may have strayed to west, Malaysia military says |