PT Telkom completes share placement

The deal''s success underlines greater investor willingness to consider Asia''s smaller stock markets.
December 08, 2001
The recent listing of Thailand's PTT, followed by the Indonesian government's Rp3.1 trillion $300m share placement of PT Telkom stock last Friday has sent a clear signal that global investors are starting to become less risk averse and look for outperformance stocks among Asia's lesser MSCI-weighted markets. Just under 50% of investors in the 1.2 billion share deal were said to be returning to the Indonesian equity market for the first time since the financial crisis, with PT Telekom giving them the perfect opportunity to re-position themselves in one of the few stocks that international accounts feel comfortable holding.

As a result of the deal, which priced at Rp2,600 per...

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