PT Bank Mestika will hold an initial public offering of its shares to the public (IPO). The owner of the company, PT Mestika Benua Mas, plans to offer 818 million shares (20%) in the price range Rp 1.370 to Rp 1.570 to raise IDR 1,2 trillion fresh funds.
The IPO will be held on July 1-4, and listing on the stock exchange on July 11. On the other hand, the Malaysian bank, RHB Capital also confirmed that it will enter into Bank Mestika with a maximum share of 40%. Bank Mestika IPO process is also claimed by newspaper as a condition of the acquisition of RHB.
In Indonesia, the business group founded by the Abdul Rashid Hussain has collaborated with OSK Group, particularly through changes in the name of PT RHB OSK Nusadana Securities and PT RHB OSK Asset Management. (Kontan, Investor Daily)
Minister for Economic Affairs, Hatta Rajasa, said that subsidy reduction plan and the fuel prices increase will be announced this Friday (21/06/13) by President Yudhoyono, after a cabinet meeting. The government will raise gasoline and diesel prices respectively to 6,500 per liter and Rp5.500 per liter, reflecting an increase 44% and 22% of the final position. (Investor daily)
The government plans to limit the extensive plantation owned by any company or business group. Based on the revised draft Regulation of the Minister of Finance (Permentan) No.26/2007 on Guidelines for Licensing of palm oil, palm oil plantation area boundaries can be owned by business group only 100,000 hectare.
The provision applies to areas that are still quite popular such as Java, Sumatra, Kalimantan, and Sulawesi, and will thus allow ownership of land to 200,000 hectares in Papua and West Papua.
The provisions of the plan would not apply to BUMN, BUMD and public company. Provisions of the plan will also force the CPO mill owners to divest some of its shares to the farmers. (Kontan)
for Indonesia Market Summaries 20 June 2013
No comments:
Post a Comment