Initial public offering (IPO) of PT Bank Tabungan Negara (BTN) was positively responded by market with the oversubscription of 2.04 times or IDR3.5 trillion worth.
Three institutional investors become the major buyers of the stocks with nominal value of IDR500. Two of them are of overseas investors and PT Jaminan Sosial Tenaga kerja (PT Jamsostek).
The IPO pricing of BTN was set at IDR800 per share unit so as to tap some IDR1.88 trillion proceeds.
The IPO pricing of BTN was set at IDR800 per share unit so as to tap some IDR1.88 trillion proceeds.
Formerly, BTN stock price was offered at the level of IDR750-1,100 per share unit. The IDR800 price provides profit ratio of 1.6 times of the book value. The investors could accumulate capital gain in the future.
PT Mandiri Sekuritas and PT CIMB Securities Indonesia assisted by PT Bahana Securities and PT Danareksa Sekuritas serve as the underwriter. Management of BTN has engaged road show to six cities in the world including Kuala Lumpur, Singapore, Hong Kong, Edinburgh (UK), Amsterdam (Dutch), and Frankfurt (Germany).
PT Mandiri Sekuritas and PT CIMB Securities Indonesia assisted by PT Bahana Securities and PT Danareksa Sekuritas serve as the underwriter. Management of BTN has engaged road show to six cities in the world including Kuala Lumpur, Singapore, Hong Kong, Edinburgh (UK), Amsterdam (Dutch), and Frankfurt (Germany).
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