Going Cheap
June 10, 2003
THIS is the hottest shares sale of the year. The government will release 10 percent (2 billion units) of its shares in Bank Mandiri, possibly with an extra 5 percent (1 billion units). There are no high targets. The shares of the largest bank in Indonesia are to be sold at 0.9-1.1 of book value or Rp569-Rp695 per unit, which is very cheap by the standards of a bank with customer deposits worth almost Rp190 trillion. Just compare it with the share
...