The Right Price for a Kijang Bank

The sale pattern of Bank Niaga shares will be changed. IBRA's way of bluffing to increase the price?

May 28, 2002

AU-turn before the finishing line. That's what the government is going to do when the Indonesian Bank Restructuring Agency (IBRA) processes the sale of 51 percent of Bank Niaga shares. After a long search for buyers, only four have been found. One week before the submission deadline, this Monday, Head of IBRA Syafruddin Temenggung announced another plan. "It's likely that we'll change the selling pattern," he said.

The reason is n

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