PT Krakatau Steel, Indonesia's largest steel manufacturer, picks foreign investment banks Credit Suisse (CS) and Deutsche Bank as lead underwriters for initial public offering.
Krakatau Steel plans to sell 20% stakes into the primary stock market in the third quarter to raise US$300 million-US$400 million of cash.
Krakatau Steel also picks three state-owned investment banks PT Bahana Securities, PT Danareksa Sekuritas, and PT Mandiri Sekuritas
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