Weekly Business

Mandiri Seeking $1 Billion

Chief economics minister Rizal Ramli is mulling an increase in capitalization for Bank Mandiri by releasing 15 percent of the bank’s shares in the last quarter of 2001. By publicly listing the bank, the government hopes to collect US$1 billion or some Rp7.3 trillion, calculated at an exchange rate to the dollar used in 2001 state budget. The bank, which was formed from the merger of four state banks, is still in

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