JAKARTA, Nov. 22 Indonesia's state-owned
construction company, PT Waskita Karya, is looking to raise up
to 1.2 trillion rupiah ($126.10 million) in an initial public
offering in December, one of the IPO's underwriters, Bahana
Securities, said on Thursday.
The property firm set a price range for the offering at
between 320 rupiah to 405 rupiah per share, Bahana director Andi
Sidharta said. The firm aims to sell 3 billion new shares, equal
to 32 percent of the company's enlarged capital.
Bahana Securities, Danareksa Sekuritas and Mandiri Sekuritas
have been named underwriters for the IPO.
Waskita Karya will be the only state-owned company to be
listed on the Indonesian stock exchange this year and aims to be
the 22nd company to list in 2012 as Southeast Asia's largest
economy shows a reduced appetite for IPOs in the face of a
global economic slowdown.
($1 = 9,635.5 rupiah)
(Reporting by Fathiya Dahrul, Writing by Andjarsari
Paramaditha, Editing by Matt Driskill)