Foreign Investors Absorb 72% of Tower Bersama IPO

Indonesia Finance

Monday, 25 October 2010 12:09

Theindonesiatoday.com - Foreign investors had absorbed 396,799,920 IPO shares of tower operator PT Tower Bersama Infrastructure Tbk, representing a 75% of total IPO shares, detikfinance.com reported today.

Tower Bersama will float 551,111,000 shares, or 12% of enlarge capital, at the price of Rp2,025 per share, or around Rp1.12 trillion on total.

Moleonoto The, managing director of PT Indo Premier Securities, underwriter for the IPO, said local investor only absorbed 28% of total IPO, of which 12% was absorbed by retail investors while the rest 16% was bought by institutional investors.

Foreign investors also dominated in absorbing the company's shares offered through private placement, said Tower Bersama's finance director Helmy Yusman Santoso.

The company will also offer 339.75 million shares or 7.46% of enlarged capital through a private placement and offer 82.7 million shares through a green shoe scheme which are owned by PT Provident Capital Indonesia and PT Wahana Anugerah Sejahtera.

UBS Securities Indonesia also acts as underwriter for the IPO. The IPO shares are scheduled for listing at stock exchange tomorrow. (hans@theindonesiatoday.com)

» CPO Future Price Declines, Plantation Stocks Mostly Up

Theindonesiatoday.com - CPO futures prices on the Bursa Malaysia for the benchmark February delivery fell to RM3,185 per ton. While price for March delivery declined to RM3,180 per ton. On the ICDX, the CPO futures prices for the benchmark February...

Latest News

» CPO Future Price Declines, Plantation Stocks Mostly Up

» Two Accidents Killed 13 in Java Over the Weekend

» Packet Systems Completes $3 Million Contract with Largest Cellular Operator

» Arwana to Build Ceramic Tile Plant in Palembang

» Bakrie Group Absorbs 16% Unit's Shares via Rights Issue

» CPO Future Price Increases, Plantation Stocks Gain

» Bayan Bags US$950 Million Syndication Loan

» Policyholders Urge Bakrie Issuing Notes

» Humpuss Targets 30% Revenue Growth for 2012

» Salamander Claims Positive Advance on Sebuku Drilling

» Week-15 on IDX: Foreign Investors End Six Weeks of Net Buy

» Micromine Consulting Undertakes Rresource Estimate at Lakuwahi

» Somali Pirates Lower Ransom Demand to US$3 Million

» Adira Finance Secures Rp250 Billion Loan from BJB

» Djakarta Llyod to Secure Coal Transport Contract from PLN

Latest News

Most Read

Industries

Politics

Law

People