Indosat, Jakarta, Indonesia’s primary provider of international telecommunications services, has filed with the US Securities & Exchange Commission for an initial public offering of American depositary shares that could raise about $1,000m. The Indonesian company didn’t disclose in the preliminary document how may would be offered but estimated that the proposed maximum amount of Series B shares to be covered in the offering could be 362m at a proposed maximum price of $2.92 per share. Merrill Lynch & Co and PT Danareksa are the global co-ordinators for the offering; the underwriters include Merrill Lynch & Co, Goldman Sachs & Co, Lehman Brothers, JP Morgan Securities, Morgan Stanley & Co Inc, Salomon Brothers Inc and Smith Barney Inc.
