“ … Here is another one. A change in what Human nature will allow for government. "Careful, Kryon, don't talk about politics. You'll get in trouble." I won't get in trouble. I'm going to tell you to watch for leadership that cares about you. "You mean politics is going to change?" It already has. It's beginning. Watch for it. You're going to see a total phase-out of old energy dictatorships eventually. The potential is that you're going to see that before 2013.

They're going to fall over, you know, because the energy of the population will not sustain an old energy leader ..."
"Update on Current Events" – Jul 23, 2011 (Kryon channelled by Lee Carroll) - (Subjects: The Humanization of God, Gaia, Shift of Human Consciousness, 2012, Benevolent Design, Financial Institutes (Recession, System to Change ...), Water Cycle (Heat up, Mini Ice Ace, Oceans, Fish, Earthquakes ..), Nuclear Power Revealed, Geothermal Power, Hydro Power, Drinking Water from Seawater, No need for Oil as Much, Middle East in Peace, Persia/Iran Uprising, Muhammad, Israel, DNA, Two Dictators to fall soon, Africa, China, (Old) Souls, Species to go, Whales to Humans, Global Unity,..... etc.)
(Subjects: Who/What is Kryon ?, Egypt Uprising, Iran/Persia Uprising, Peace in Middle East without Israel actively involved, Muhammad, "Conceptual" Youth Revolution, "Conceptual" Managed Business, Internet, Social Media, News Media, Google, Bankers, Global Unity,..... etc.)

Saturday, December 05, 2009

Strong Demand in Indonesia For 2009’s Biggest IPO

The Jakarta Globe

The country’s biggest initial public offering this year, by state-owned PT Bank Tabungan Negara, has been massively oversubscribed, State Owned Enterprises Minister Mustafa Abubakar said on Friday.

BTN, the country’s largest home loan creditor, is offering 2.36 billion shares to the public, amounting to 27 percent of its equity. The share price has been set within a range of Rp 750 to Rp 1,100 (8 cents to 11 cents) per share, meaning BTN will raise between Rp 1.8 trillion and Rp 2.6 trillion.

The IPO attracted Rp 3.5 trillion of subscriptions, Mustafa said.

“BTN’s offer has been well received by potential investors during the road show,” he said.

BTN will offer the shares to investors on the primary market on Thursday and Friday, followed by a listing on the Indonesia Stock Exchange (IDX) on Dec. 17.

The state-owned bank has allocated 60 percent of the stock offered to local companies, with international buyers allocated the remaining 40 percent.

Several large investors have already committed to purchase sizeable stakes, Mustafa said.

“PT Jamsostek [a state-owned social security provider] is one of the biggest buyers of the BTN stock. We welcomed Jamsostek’s move because it will be positively accepted by local investors,” he said.

Jamsostek manages funds worth about Rp 78 trillion.

“The Government of Singapore Investment Corporation is one of the potential large international buyers,” Mustafa said.

The Singaporean government’s global investment management company manages around $100 billion. It invests in equities, fixed income, natural resources, treasury and currencies, real estate, and infrastructure.

BTN’s IPO has been delayed for several years as it waited for approval from the House of Representatives, which it received last year.

The bank said in a statement that all of the proceeds from the IPO would be used to support lending expansion in the coming years.

“This year we expect credit growth of 25 percent, while next year we hope it will grow by 20 percent,” said Iqbal Latanro, president director of BTN.

No comments: