Investors remain switched on to SCM

CLSA completes the first IPO from Indonesia since 1997 incorporating an international tranche.

Jackie Horne

June 28, 2002

Institutional books for a 375 million share flotation of Indonesian TV company PT Surya Citra Media (SCM) were closed on Friday after being kept open for an extra day because of volatile equity markets. The deal ended up being completed placement style after the book was re-built at Rp1,100 per share to take into account fall-out in world equity markets triggered by Worldcom last Wednesday.

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