BRI prices at top of range

PT Bank Rakyat Indonesia (BRI) completed the largest equity deal from Indonesia since the financial crisis yesterday (Wednesday) with the completion of a roughly Rp4.17 trillion ($486 million) IPO. With Bahana Sekuritas and UBS as lead mangers, the microfinance lender priced a 4.764 billion share deal at Rp875 per share, the top end of a Rp700 to Rp875 indicative range.