Reuters - Indonesia IPO Train Derails

The spark that Matahari Department Store's $1.3 billion deal was meant to provide Indonesia's IPO market has turned into a dud, writes Reuters. Bankers and issuers were anticipating a record $4.1 billion worth of initial public offerings in 2013, including $2.5 billion in the first half of the year, writes Reuters. The Matahari deal in March - in which private equity firm CVC Capital sold down its stake in Indonesia's biggest stock sale since 2011 - was seen as a stage setter, writes Reuters.

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