PT Danatama Makmur
Thursday, January 31st, 2008January 31, 2008, 4:39 pm
League Tables 2008: Indonesia 1; Lazard, Lehman & DB 0
Posted by Stephen Grocer
Wall Street, meet PT Danatama Makmur, your newest league table competition.
The Indonesian brokerage house slid in at No. 10 on the all-important global league table of announced deal volume for January, according to Dealogic. That puts it ahead of such league table stalwarts as Lehman Brothers Holdings, Deutsche Bank and the firm that helped pioneer the M&A advisory business — Lazard. It also is just $800 million less than Morgan Stanley’s total.
Danatama Makmur landed on the league tables thanks to its role, along with Credit Suisse Group, advising Bakrie & Brothers. The holding company controlled by the Bakrie family announced acquisitions of stakes in three companies valued at a total $5.1 billion.
Yes, one month is too short a time period from which to draw any significant conclusions. And yes, Danatama Makmur slipped into the league table by advising on essentially one deal, so it seems unlikely that the brokerage house will be listed on the year-end league tables.
Still, an emerging-market bank joining — however briefly — the ranks of the banking elite is a symbolic moment. It builds in some ways on a point WSJ.com Executive Editor Alan Murray made about this year’s World Economic Forum in Davos on Monday: “This year, it is finally clear that the U.S. is no longer the only big kid on campus.”
In fact, if there is anything to be drawn from this month’s league tables, it is the importance of Asia as a whole to global deal making. Volume in the U.S. and Europe this month fell off precipitously from the year earlier period — down 58% and 25%, respectively. In contrast, deal volume in Asia jumped 50%, according to Dealogic. Asia also accounted for 26% of world-wide deal volume, compared with just 11% last year.
All of which has Deal Journal wondering: Though Danatama Makmur’s stay on the league tables may be short lived, how long before investment banks from China and India are fixtures on the global league tables?
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ndonesia’s Truba Jaya plans IPO in February
JAKARTA, Jan 14 (Reuters) - Indonesian engineering firm Truba Jaya Engineering Tbk aims to list its shares on the Indonesia Stock Exchange in February to finance the construction of some projects, the company said on Monday.
Truba, an affiliate of energy and engineering firm PT Truba Alam Manunggal Engineering Tbk TRUB.JK, plans to offer 3.2 billion new shares between Feb.18-20, or around 21 percent of its share capital. The company did not elaborate on the price or the indicative amount it plans to raise from the IPO.
Truba will also offer 3.2 billion warrants. PT Danatama Makmur has been appointed as the underwriter for the offering.
A number of Indonesian companies plan to tap the country’s capital market to raise funds on the Indonesia Stock Exhange which is trading around historically high levels.
In 2007, Indonesian companies raised 17.5 trillion rupiah ($1.86 billion) from initial public offerings, nearly six times the amount in the previous year. ($1 = 9,432 rupiah) (Reporting by Harry Suhartono, editing by Valerie Lee)
http://www.reuters.com/articlePrint?articleId=USJAK190820080114