JAKARTA (Yosefardi) – PT Bank Panin Syariah plans to launch initial public offering (IPO) in early January 2014, targets to raise funds of maximum Rp600 billion, Bisnis Indonesia reported this morning.
The bank had last week conducted a mini expose with the Indonesia Stock Exchange (IDX) for IPO, facilitated by underwriter PT Evergreen Capital.
One source said Bank Panin Syariah might offer 5 billion shares through IPO, representing 50% of its total issued and paid-up capital.
Meanwhile flag carrier PT Garuda Indonesia Tbk (GIAA) will reportedly postpone the IPO of its unit PT Garuda Maintainance Facility (GMF) AeroAsia. The IPO is earlier scheduled to launch this year.
GIAA its self also said it is pessimistic to launch rights issue this year as the market condition does not support.