PT Bank Rakyat Indonesia BRI completed the largest equity deal from Indonesia since the financial crisis yesterday Wednesday with the completion of a roughly Rp4.17 trillion $486 million IPO. With Bahana Sekuritas and UBS as lead mangers, the microfinance lender priced a 4.764 billion share deal at Rp875 per share, the top end of a Rp700 to Rp875 indicative range.
The transaction has a split, which will see 54% of the deal placed with international investors and 46% with domestic investors. The local retail offering opens next week and will see10% of shares set aside for company employees and 5% for bank customers, each receiving a 3% discount. The base deal comprises...
