SBI Cards set to allocate Rp103bn IPO

By Jonathan Breen
11 Mar 2020

SBI Cards and Payments Services has priced its Rp103.4bn ($1.4bn) IPO at the top of the range and was allocating the stock to investors on Wednesday.

The State Bank of India subsidiary saw a roaring turnout for its flotation, which comprised Rp5bn in fresh equity and 130.5m secondary shares. The stock was on offer at Rp750 to Rp755 apiece.

The IPO, which ran from March 2-5, was subscribed 26.54 times. The qualified ...

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