Going Cheap

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

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