Investors flag down Blue Bird for $200m IPO

Blue Bird taxi230px
By Rashmi Kumar
23 Oct 2014

Indonesian taxi operator Blue Bird Group became a victim of weak global market conditions last week, which forced it to shrink its IPO by 33% despite books being covered within hours of launch.

The company first approached investors with a target size of Rph3.7tr ($307m), with the number of shares to be sold anywhere between 397.85m and 513.89m. They were offered at a range of Rph7,200-Rph9,300.

Books were covered within two hours of opening on October 3, said bankers at the time. ...

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