Govt to select underwriting firms for PGN divestment next week
Wednesday, October 12 2005 - 01:58 AM WIB
The Office the State Minister of State Enterprises expects to be able to select two firms to underwrite the planned divestment of government shares in state-owned gas distributor PT Perusahaan Gas Negara (PGN), Kompas reported on Wednesday.
The paper quoted State Minister of State Enterprises Sugiharto as saying that his office had invited local investment banks Danareksa Securities and Bahana Securities to join the bid for the underwriting job.
The upcoming divestment of PGN shares is expected to raise around Rp 1 trillion in proceeds, Kompas said. The divestment is part of the government's privatization program this year.(*)