Indonesia taxi operator Blue Bird cuts size of IPO to $200 mln-IFR

-A +A

JAKARTA (Oct 17): Indonesia's biggest taxi operator PT Blue Bird is set to raise about $200 million in its initial public offering, much lower than an earlier projection of $307 million, after it relaunched the deal below a previous price range, IFR reported on Friday.

Blue Bird is selling 376.5 million shares at 6,500 rupiah ($0.54) per share, below an earlier indicative pricing between 7,200 and 9,300 rupiah, according to a term sheet seen by IFR, a Thomson Reuters publication.

The company expects to have a market value of $1.3 billion when it lists in early November.

Credit Suisse, UBS and Danareksa are the joint global coordinators and joint bookrunners. (1 US dollar = 12,135.00 rupiah)