HONG KONG, June 21: PT Bank Muamalat Indonesia delayed an up to $177 million an initial public offering because of recent stock market declines, IFR reported on Friday, citing sources familiar with the plans.
The sharia lender hasn’t decided on a new timetable for the IPO, added IFR, a Thomson Reuters publication. Muamalat had already lowered the indicative price range on the deal to 575-675 rupiah from the original 625-975 rupiah, to try and drum up demand.
CIMB and Bahana Securities were hired to underwrite the IPO.
(AGENCIES)
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