Tugu Pratama appointed three underwriters

PT Tugu Pratama Indonesia has appointed three state owned securities companies to cope with the initial public offering (IPO) in semester II/2008.
The three companies here include Mandiri Sekuritas, Danareksa Sekuritas, and Bahana Securities.
Formerly Tugu Pratama invited nine securities companies in the underwriter tender, namely PT BNI Securities, PT CLSA Indonesia, PT DBS Securities Indonesia, PT Danatama Makmur, PT Indo Premier Securities, and PT Trimegah Securities Tbk.
The company enters the market on the basis of June finance report this year. The IPO here has been approved by the shareholders including Pertamina with its 40 percent shares ownership, Pension Fund 20 percent, PPA 17.5 percent and Muhammad Bob Hasan 17.5 percent.
Tugu Pratama possesses 100 percent shares of PT Tugu Pratama Interindo (TP Interindo) as the investment company with 30 percent of PT Tugu Reasuransi Indonesia (Tugu Re) shares possession in which the government and PPA also has 30 percent of shares.
The other Tugu Re shareholders are Bambang Trihatmodjo with 20 percent ownership and Pertamina Pension Fund 20 percent.
TP Interindo has 10 percent shares of PT Asuransi Jiwa Tugu Mandiri in which PPA has 30 percent shares, Pertamina Pension Fund 40 percent, and Tin Pension Fund 20 percent. Tugu Pratama has entered sharia insurance market since 2005.
Along with the Tugu Pratama IPO, PPA seeks re tender of the 17.5 percent Tugu Pratama stock sales.