Six securities firms to compete for PGN's divestment plan
Monday, October 10 2005 - 03:33 AM WIB
The office of the State Minister of State Owned Enterprises has invited six companies to take part in the auction to act as the lead coordinator for state owned gas distribution company PT PGN's share divestment plan, Bisnis Indonesia reported.
The securities companies invited to take part in the auction include PT Dana Reksa Securitas, PT Bahana Sekuritas, PT Ciptadana Sekuritas, PT Trimegah Sekuritas and Indopremier Sekuritas.
The securities companies are requested to submit their offer on 10 Oct, 2005 at the latest. The companies should also disclose their foreign partners in their respective proposals.
PGN plans to divest 7.4 percent of the government's shares to help raise fresh funds to fill the growing deficit in the state budget. (*)