PT Bank Mandiri Tbk, Indonesia's largest lender by asset, could raise IDR1.5 trilion -IDR2.1 trilion from initial public offering PT Garuda Indonesia. Garuda Indonesia IPO plan which will be completed on 11th Feb 2011.
Currently, Mandiri holds approx 1.9 billion shares in Garuda, which would represent 7.5% of the company's enlarged capital. Based on Garuda's IPO price range of Rp750-1,100, that proceeds to Mandiri could reach Rp1.5 trilion-IDR2.1 trilion.
Amongst major banks, the bank is one of the primary beneficiaries from higher rates as it has twice the amount offloating-rate earnings assets to floating-rate funding. The bank's low cost of funds and excess liquidity should allow it to gain loan market shares.
Amongst major banks, Mandiri is the only bank with four strong subsidiaries (insurance, finance,
micro bank and auto finance).
micro bank and auto finance).
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