Lead managers Danareksa and Credit Suisse First Boston completed a scaled down 83.5m global placement share issue in Indosat late last Friday (May 17), New York time, raising $110m for the Indonesian government. As a result, the government has reduced its stake by 8.1% and now controls 56.9% of the integrated telecoms company, completing its first disbursement since Indosat went public in 1994. The next stage is for the government to sell a 36.9% stake to a strategic corporate investor later this year.
May 24, 2002
