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Wednesday 3 November 9:32 PM
Indonesia Govt Launches 10% Bk Danamon Stake Sale(MORE) Dow Jones Newswires November 03, 2004 04:58 ET (09:58 GMT) Danamon Shrs Priced 3%-5% Discount To Wed Close - Source (MORE) Dow Jones Newswires November 03, 2004 05:01 ET (10:01 GMT) Indonesia To Raise $180M-$190M From Danamon Sale -Source (MORE) Dow Jones Newswires November 03, 2004 05:02 ET (10:02 GMT) Singapore's Temasek Mulling Buying Danamon Shrs - Source (MORE) Dow Jones Newswires November 03, 2004 05:04 ET (10:04 GMT) DJ Indonesia Govt Launches 10% Bk Danamon Stake Sale JAKARTA (Dow Jones)--The Indonesian government Wednesday said it has launched the sale of a 10% stake in PT Bank Danamon (BDMN.JK), Indonesia's fifth biggest lender, in a move designed to help narrow the government's 2004 budget deficit. The sale of about 490 million shares in the bank will raise between US$180 million and US$190 million for the government, a source familiar with the deal said - cash that the government needs after its privatization program failed to meet its fundraising target. The government currently owns a 20.5% stake in Bank Danamon. The shares will be priced at a 3%-5% discount to the Wednesday closing price, the source said. The government has asked the Jakarta bourse to suspend trading in the shares Thursday. (MORE) Dow Jones Newswires November 03, 2004 05:32 ET (10:32 GMT)
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