Sellers need to create a competition-like environment to get better prices. Some brokerage firms in Indonesia, for example, hired jockeys to establish a long queue for initial public offering (IPO) to create a perception called over-subscribed. Ask someone to take the picture, and ask someone else to publish it in the media. Sometimes it worked well, especially to attract followers-type investors.
Read MoreEarly 2006, various groups competed to takeover three companies—PT Kaltim Prima Coal, PT Arutmin Indonesia, and Indocoal—from Bumi Resources (BUMI). Renaissance Capital got the deal with US$3.25 billion offer. But then collapsed six months later.
Read MorePT Northstar Pacific with full support from Texas Pacific Group (TPG) has signed conditional shares purchase agreement (CSPA) with Bakrie Group regarding the shares in PT Bumi Resources (BUMI) Tbk. They have one month to accomplish the deal. What are the conditions? Who will provide the US$1.2-1.4 billion financing?
Read MoreCiliandra Perkasa Finance Company Ltd has repurchased US$5 million bonds due 2011 leaving the outstanding amount of US$140.8 million. How about the company’s performance? PT Ciliandra Perkasa Tbk, a company controlled by...
Read MoreFirst Resources Ltd is a newly listed company in Singapore, while PT Surya Dumai Industri Tbk has been kicked-out from Indonesia Stock Exchange (IDX). Both are related because Martias, convicted in a corruption scandal, is founder/owner of Surya Dumai. While his son Fangiono controls First Resources.
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