ASEAN KEY DESTINATIONS
Lack of transparency in Indonesian IPO
"We do realize that there was a lack of public communication about the IPO of Krakatau Steel (KS). We will learn from this and use this experience constructively for the next IPO," he said Friday as quoted by Kompas.com.
He said he denied accusations that the government was "selling off" the state enterprise, saying that the lion's share of Krakatau Steel still belonged to the government, and that only a minority 20 percent had gone public.
Mustafa insisted the initial listing price of the stock of Rp 850 per share was in line with the company's market valuation.
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