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Blue Bird Group to raise US$600 Million from IPO

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July 26
4:39 AM 2013

Blue Bird Group said that they plan to raise at least US$600 million through an initial public offering. Blue Bird Group, Indonesia's biggest taxi operator, said that they plan to start the sale of stocks by the fourth quarter of this year. Sources close to the deal are saying that Blue Bird may expand their fundraising target up to US$800 million.

The US$600 million Blue Bird initial public offering is tagged as the largest since PT Indofood CBP raised US$696 million through their public offering last October 2010. With the seen potential for consumption and rising wealth, investors are enticed to put their money in Southeast Asia's largest market. Companies were able to raise an estimated US$3.7 billion through share sales in Jakarta since the start of the year.

UBS AG, Rothschild Group and Credit Suisse Group AG were hired to manage and arrange the details for the initial public offering.

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