Angling For The Locals

Indonesia's stockbrokers got a rare pleasant surprise in mid-July. Two weeks before the initial public offering of PT Bimantara Citra, a holding company owned by a son of President Suharto, the $112.6 million issue was more than 40 times oversubscribed. Who were all those eager buyers? Brokers could only wonder how the underwriter managed to scare up so much demand.

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