Goverment plans to divest 3.1% shares- equals 473.89 million shares in PT Bank Negara Indonesia Tbk.
The green shoe stock-which once used by the government to stabilize BNI's stock-has not been sold since the bank's stock price still reaches below IDR2,050. Assuming the stock is sold at IDR2,050 per share, the government can raise IDR971.47 billion in fresh funds.
It has been difficult for the government to sell 4.14% green shoe stocks of BNI as the stock price of the bank is still less than the initial price of IDR2,050.
State Enterprise Ministry ensures to include the rights issue scheme of Bank Mandiri and BNI in the 2010 state enterprise privatization list.
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