As recently as two years ago if you had tried to sell equity in Indonesian banks to international investors you'd have been committed to an asylum, put in a cell and had the keys thrown down a very deep pit.
How things have changed. After Bank Mandiri's successful IPO, the appetite for Indonesian paper remained unsatiated and particularly for banks - which remain a good proxy for any investor wanting to take a bet on the Indonesian economy and its 200 million population.
Bank Danamon - via sole bookrunner, JPMorgan - has hence followed the success of Mandiri with a $134 million sale of IBRA's 20% stake in...
