Danareksa has chances to handle PTPN VII IPO

PT Perkebunan Nusantara (PTPN) VII recommended PT Danareksa Sekuritas which seeks cooperation with Credit Suisse to become the underwriter of initial public offering (IPO).
The State Enterprise Ministry has approved the recommendation proposal here.
PTPN VII formerly selected five local securities companies to become the underwriter for the yearend IPO.
President Director of PTPN VII Andi Punoko said the fixed selection of Danareksa should wait for the State Enterprise Ministry approval.
"Danareksa got the highest score. We give the recommendation to the State Enterprise Ministry including the other underwriters list with lower scoring," he said yesterday.
The selection of securities companies involved PT Bahana Securities, PT Danareksa Sekuritas, and PT Mandiri Sekuritas. "Would Danareksa be approvad, they will handle the PTPN VII IPO with their partners assistances."
He declined to mention Danareksa partners. But a reliable source said Danareksa will seek cooperation with Credit Suisse to help market PTPN VII abroad.
Andi said the company cut down the targeted fund from the IPO as from the prior target of IDR1.5 trillion.
"The commodity pricing decreases so that the IPO target should be cut down into IDR1-1.2 trillion. Formerly we predicted the IPO will tap some IDR1.2-1.5 trillion," he said.