Indonesians shun global banks

摘要

The line-up of underwriters on three recent Indonesian IPOs is making global banks nervous. Waskita beton precast, anucerah berkah madani and aneka cas all hired local or regional South-East Asian banks to arrange their listings, intended to raise a total of RplOtrn (US$753m). The only global arranger to win a role on a recent major share sale is Credit Suisse, which helped place Rpl.2trn of Puradelta Lestari stock for vendor Sinarmas in mid-August, alongside CIMB and Mandiri. Last year, Puradelta's Rpltrn IPO was a far more international affair, featuring lead managers Citigroup, CLSA, Macquarie and Nomura.